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> then many, many other coins (and companies, for that matter) are also fraudulent Nearly all the Ethereum-derived ICOs are 100% fraudulent, and they're popula
by Obi_Juan_Kenobi 9y ago
> then many, many other coins (and companies, for that matter) are also fraudulent
Nearly all the Ethereum-derived ICOs are 100% fraudulent, and they're popularity does nothing whatsoever to mitigate this.
The SEC is fairly clear how they view this developing situation, and what will likely be done about it. https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11 https://www.sec.gov/news/public-statement/statement-clayton-...
- CryptoPunk 9y agoThat's a ridiculous generalisation. People are far too quick to throw around the fraud accusation. Unless you have actual evidence of fraud for nearly every one of these token sales that you refer to, it's irresponsible to make such a damaging accusation.
- thedufer 9y agoAs described in the SEC letter at GP's link, all of the ICOs I've seen clearly categorize as securities, and none of them seem to be registered. Selling unregistered securities to the general public is securities fraud. Although I'm sure there are a few ICOs that followed the rules, it doesn't seem like a terribly unfair generalization.
- CryptoPunk 9y ago"Securities fraud" is not always fraud. The SEC and statutes can have a definition for fraud that does not conform with the real definition. Moreover the SEC communiqué does not say almost all token sales are securities offerings. In fact the Investigative Report on the DAO lists several securities-like qualities that the DAO had that most tokens do not have.