The page then continues to outline the red-flags the SEC planted on the HoweyCoins'site to demonstrate the false advertising practices that many scam projects employ to rope in investors. The agency which regulates financial contracts in the U.S. launched its own Initial Coin Offering today, complete with an unintelligible white paper, an attractive "investment ladder", and outlandish returns of 2 percent per day.
More than $5 billion had been raised in ICOs in 2017, up from $256 million the year before, according to data from CoinDesk.
In a press release, the SEC said that the site includes "a white paper with a complex yet vague explanation of the investment opportunity, promises of guaranteed returns, and a countdown clock that shows time is quickly running out on the deal of a lifetime". They are also a proven way for scammers to get to non-savvy investors who want to tap into the rumored high returns possible with cryptocurrency. In the ongoing process of regulating cryptocurrency, the SEC has been recommending that exchanges use this test as a guide for whether a coin falls under the existing securities regulations or not.
The SEC said the HoweyCoins, name is a reference to the Howey test - the guideline everyone is applying to determine if an ICO is a security (even though they all are - in the US).
Killings: Buhari okays N10bn for Benue, others' repairs
The Vice President assured the IDPs that government would not renege on its responsibility of providing security to them. Osinbajo, who arrived in Benue on Tuesday afternoon, visited the IDP camps and met with various groups in the state.
The SEC has done its part to combat ICO fraud. Since it's creation the unit has been actively focusing on ICOs as the largest potential threat to investors.
He added referring to the big discounts fake ICOs often have on offer to lure in victims; "Buy at a 25% discount today because tomorrow it's going to be full value?"
The US-based regulator built the website to highlight the dangers of investing in ICOs. Its decision guides the definition the regulator uses to this day in determining what constitutes a security: "a person invests his money in a common enterprise and is led to expect profits exclusively from the efforts of the promoter or a third party". "It's great that they're educating investors and not just bring (sic) paternalistic, and it's creative too, which I wouldn't have expected", Trevor Koverko, chief executive of Polymath told The Wall Street Journal.
Since its inception, OnePlus has been shaped and built by its community and they have been a large part of the company's journey. The memory options of the phone will be 6GB or 8GB of RAM and internal memory storage options of 64GB, 128GB or 256GB.
A Million Little Things is a drama about a group of friends from Boston who bonded under unexpected circumstances. THURSDAY: 8 p.m., " Grey's Anatomy; " 9 p.m., " Station 19; " 10 p.m., " How To Get Away With Murder ".
UBS set a $63.00 price objective on Wells Fargo and gave the stock a "hold" rating in a research note on Monday, February 5th. Adams Express Company, which manages about $1.86B US Long portfolio, decreased its stake in Penn National Gaming Inc.
However, the judge is holding his judgment for five days to give the state time to file an emergency appeal. Worse, for patients, "the so-called right to die very quickly becomes the duty to die", Stevens said.
The stock go down so far this year; showing a decline of -89.67% and dropped with negative flow of -55.03% during recent week. Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 0, and a price to sales ratio of 4.01.
It was the third round of sanctions announced by Washington since the United States pulled out of the Iran nuclear deal last week. Nasrallah was designated for acting for or on behalf of "Hezbollah", which he has led since 1992.
The Holt family released a statement through Trujillo, saying they were both "deeply troubled and concerned" about the riots. A third video shows a USA citizen, John Holt , who was arrested in Caracas in 2016 and has yet to be tried.
On the women's side, two-time Grand Slam champion Victoria Azarenka was outplayed 0-6, 3-6 by World No. 21 Naomi Osaka. Since his tournament debut in 2007, he has never lost before the quarter-finals in the Italian capital.
Delight as Hartlepool beach wins national quality award
The views from Weymouth Beach and the bay are spectacular, stretching across the horizon and taking in the Jurassic Coastline. A fifth have never set foot on a beach while a third have never holidayed at a United Kingdom seaside resort.
David Warner to play club cricket in Australia
Cricket Australia (CA) had suspended the captain and vice-captain for a period of 1 year and Bancroft was banned for 9 months. Whitney, a former test player for Australia, was also well-known as a TV presenter for his work on the show Who Dares Wins .
Cisco Systems (NASDAQ:CSCO) Shares Sold by Motco
The United Kingdom-based fund Edinburgh Partners Ltd have invested about 6.7% of the fund's stock portfolio in Cisco Systems Inc. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link .
Watch Angie Martinez' Latest Sit-Down with J. Cole
I'ma go in on the whole situation, but I feel hesitant to go in for the public. "First of all, I'm a fan", he continued. When the topic arose, Cole stated the posting of their conversation to Twitter made him "feel a certain type of way".