The Consumer Finance Protection Bureau released a report Monday concluding that virtual currencies, such as Bitcoin, offer less protection than regular currencies and can be vulnerable to outrageous mark-ups, online scams and hackers.
In addition to publishing the report, the bureau has also added a virtual currency section to their complaint page where people who have run into problems with Bitcoin or other similar currencies can register their issues.
According to Bitcoin.com, there are more than 13 million units of virtual currency around the world.
More Must-Reads From TIME
- Who Will Be TIME's Person of the Year 2023?
- Why Cell Phone Reception Is Getting Worse
- The Dirty Secrets of Alternative Plastics
- Column: It's Time to Scrap the Abraham Accords
- Israeli Family Celebrates Release of Hostage Grandmother
- In a New Movie, Beyoncé Finds Freedom
- The Top 100 Photos of 2023
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time