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The article itself isn't particularly useful, but I'm pleasantly surprised by how well the CFTC has done with their press releases. They clearly explain the nat
by actsasbuffoon 9y ago
The article itself isn't particularly useful, but I'm pleasantly surprised by how well the CFTC has done with their press releases. They clearly explain the nature of the alleged crimes without any legalese.
One of the companies is accused of being an outright Ponzi scheme. They took money and promised to invest it, but just paid off other customers with the money instead. The second company took money, then vanished into the night without providing services.
As someone who is developing a business that involves Ethereum smart contracts, I'm pleased to see that the regulators seem well versed in crypto currencies, and they have a nuanced view of the subject.