The Division of Securities within the Tennessee Department of Commerce & Insurance (TDCI) is taking proactive measures to raise awareness regarding the potential hazards of investing in unregulated products such as cryptocurrency, with a particular focus on protecting the elder population. Carter Lawrence, the Commissioner of TDCI, emphasized the significance of safeguarding the financial independence of Tennessee’s seniors and encouraged them, as well as their loved ones and caregivers, to reach out to the department for assistance concerning investments or insurance policies.
In order to provide comprehensive protection for senior investors, TDCI has put forth a number of crucial recommendations. It is strongly advised that investors thoroughly comprehend the risks associated with cryptocurrency, including the possibility of complete loss. Moreover, it is essential to verify the registration of the individual or entity offering the investment with securities regulators. Seniors should exercise caution when it comes to sharing personal or account information with digital avatars, and they should be wary of unsolicited online investment advice and the spread of misinformation. If any doubts or suspicions of fraudulent activities arise, seniors are strongly urged to contact TDCI’s Securities Division for further information and assistance.
