Are there any consumer protections related to the sale and use of cryptocurrency?
Yes, there are consumer protections related to the sale and use of cryptocurrency in Texas. The Texas Securities Act prohibits individuals from selling or promoting investments in digital assets without first registering with the Securities Commissioner or meeting certain exemptions. Additionally, the Cybercrime Act applies to cryptocurrency-related crimes such as fraud or money laundering. The Texas Deceptive Trade Practices-Consumer Protection Act may also protect consumers by prohibiting deceptive practices when selling or promoting cryptocurrencies. This includes making false or misleading statements, failing to disclose material facts, and using unfair or unconscionable means to collect a debt or obtain property. Additionally, the Texas Uniform Fraudulent Transfer Act may apply when a person attempts to unlawfully transfer or conceal cryptocurrency for the purpose of avoiding any debt or duty. Furthermore, the Texas Business and Commerce Code may allow consumers to seek damages or other relief in the case of a breach of contract related to cryptocurrency. These consumer protections can help ensure individuals who buy, sell, or use cryptocurrency are not taken advantage of.
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