BALTIMORE (AP) — Two state officials are warning Maryland residents to exercise caution in buying, selling, transacting with or investing in virtual currencies.
Mark Kaufman, commissioner of Financial Regulation and Attorney General Doug Gansler warned residents on Friday that Maryland does not regulate virtual currencies such as bitcoin.READ MORE: SEE IT: Good Samaritan Recalls Moment He Jumped Into Bay To Rescue Toddler After Ocean City Crash
Bitcoins, created in 2009, are used for transactions across borders without third parties such as banks.READ MORE: Baltimore Mayor Announces Pilot Program To Direct Some 911 Calls To Mental Health Professionals
Kaufman and Gansler say residents should consider the risks inherent in transacting or investing in virtual currencies.MORE NEWS: Unemployed Workers Rally, Demanding To Know When They Will Get Their Money
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