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The Boston Globe

Business

BetaBoston

Mass. regulators warn about bitcoin

Massachusetts regulators issued a strongly worded warning Tuesday about the risks of the virtual currency known as bitcoin after the opening of the second ATM-like kiosk in the Boston area that make it easier for people to buy it.

The warning, from the Office of Consumer Affairs and Business Regulation, urged consumers “to proceed with caution” because bitcoin and other so-called crypto-currencies can fluctuate wildly in value, saddling buyers with sudden large losses, and are vulnerable to hacking — as was the case in the collapse of one of the largest bitcoin exchanges, Mt. Gox.

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