The United States Securities and Exchange Commission has announced a series of educational events targeting underrepresented communities and others \u2014 but suggested participants would be taught to \u201cexercise caution\u201d on crypto.<\/p>\n
In an April 3 announcement, the SEC said it will reach out to groups including high school students, members of the military, older investors, and native Americans in an effort to promote financial literacy. However, the financial regulator suggested its approach at such events could include \u201chow to avoid becoming a victim of fraud\u201d using cryptocurrencies.<\/p>\n
The SEC cited as one of its resources an alert from March 23, in which the regulator urged people to be \u201ccautious\u201d if considering investments in crypto projects which may qualify as securities under the regulator\u2019s purview:<\/p>\n
\u201cThe only money you should put at risk with any speculative investment is money you can afford to lose entirely.\u201d<\/p><\/blockquote>\n
U.S. government agencies have been promoting similar initiatives regarding financial literacy since 2003, when April was officially designated National Financial Capability Month. The announcement came amid many in and out of the crypto space criticizing the financial regulator for claiming that it wants firms to \u201ccome in and talk\u201d while continuing to take enforcement actions. <\/p>\n