The Federal Trade Commission in the U.S. is conducting a workshop titled "Decrypting Cryptocurrency Scams" that will examine scams involving cryptocurrencies like bitcoin and Ethereum. The workshop, which is free and open to the public, will be held on June 25 at the DePaul University in Chicago, Illinois.
The half-day event will bring together consumer groups, law enforcement agencies, research organizations, and the private sector to explore how scammers are exploiting public interest in cryptocurrencies such as bitcoin and Litecoin. It will also discuss ways to empower and protect consumers.
According to the agenda released by the FTC, Andrew Smith, Director of the FTC's Bureau of Consumer Protection, will give opening remarks at the workshop followed by three panel discussions.
The workshop is of utmost importance at a time when crypto scammers are more active with the consumer interest growing in recent times.
The FTC says the scams include deceptive investment and business opportunities, bait-and-switch schemes, and deceptively marketed mining machines.
As technological advances expand the ways consumers can store, share, spend, and borrow money, the FTC is working to keep consumers protected while encouraging innovation for consumers' benefit.
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