HOUSTON — Crypto is exploding, and so are the scams. New data from the Consumer Financial Protection Bureau shows Texas leads the country in complaints.

In the last three years (September 2022 – September 2025), Texans filed 6,546 complaints, followed by California (5,458) and Georgia (3,905). That’s thousands of people who say they were misled, cheated, or tricked while investing in digital currency.

Chris Bronk, PhD, Associate Professor at the University of Houston Hobby School of Public Affairs, said he is not surprised by the number of consumer complaints in Texas.

“We have a weak regulatory regime. Texas has really encouraged crypto mining in the state. This is a very bullish state on this technology. And unfortunately, the state has not enacted the kind of defenses that would be n

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