Since 2009, Bitcoin (A decentralized peer-to-peer virtual crypto-currency) has grown to proportion, making speculation as to whether it will replace fiat. Bitcoin has facilitated merchants to process other payment options for their products and services. For consumers, bitcoin has let them make transaction anonymously without the burden of paying high fees. However, because of its lack of Consumer Protection, Bitcoin today is an Ecosystem which fosters various types of scams and fraud techniques that affects people who are not very much aware of who their are dealing with before making a transaction trying to obtain a product or a service. Therefore, the White House should address this issue. There got to be Consumer Protection against bitcoin scams and fraud.
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