The FTC Doesn’t See the Difference Between Crypto and LuLaRoe

The FTC Doesn’t See the Difference Between Crypto and LuLaRoe

The U.S. Federal Trade Commission (FTC) on Oct. 26 sent what’s known as a “Notice of Penalty Offense” to more than one thousand companies, including the crypto exchanges Blockchain, Gemini, U.K.-based Bixo, and other fintech and crypto firms. The notices, which warn businesses not to overstate the earning potential of investments or business opportunities, were also sent to a large number of gig-work platforms, multi-level marketing firms (MLMs) and franchise companies, all of which can sometimes resemble exploitative pyramid schemes, and often leave would-be entrepreneurs feeling duped.

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