SoylentNews
SoylentNews is people
https://soylentnews.org/

MrPlow writes:

Submitted via IRC for SoyCow3941

In its latest effort to fend off cryptocurrency scams, the Securities and Exchange Commission launched its own fake initial coin offering website today called the Howey Coin to warn people against fraudulent cryptocurrencies. The name is a tongue-in-cheek reference to the Howey Test that the SEC uses to determine whether an investment is a security, which the Commission would therefore have legal jurisdiction over.

Click 'Buy Coins Now' on the Howey Coins site and you'll be redirected to an SEC page that states: "We created the bogus HoweyCoins.com site as an educational tool to alert investors to possible fraud involving digital assets like crypto-currencies and coin offerings." The SEC uses the page to highlight red flags that customers should watch out for, including a promise of high returns (which indicates high risks), celebrity endorsements, and even false claimes that an ICO is SEC-compliant.

Source: https://www.theverge.com/tldr/2018/5/16/17361750/sec-cryptocurrency-ico-investors

Original Submission

1. "MrPlow" - https://soylentnews.org/~MrPlow/
2. "fake initial coin offering website" - https://www.howeycoins.com/index.html
3. "Howey" - https://www.coinist.io/the-howey-test-the-sec-and-ico/
4. "to an SEC page" - https://www.investor.gov/howeycoins
5. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=26709

printed from SoylentNews, The SEC Created its Own Scammy ICO to Teach Investors a Lesson on 2024-04-24 20:49:30