ICO Alert Crypto Minute: May 18, 2018
In Today’s Crypto Minute: The SEC tries to scam ICO investors, Golem CEO raves on Ethereum, and Thailand successfully regulates the crypto market.
SEC Created its Own Scammy ICO to Teach Investors a Lesson
According to theverge, the SEC has set up its own ICO to try to lure unsophisticated investors into purchasing its fake tokens. Calling its tokens HoweyCoins(the Howey test is used to decide whether a token is a security), the SEC attempted to teach everyone a lesson with this elaborate stunt. The “buy now” button redirects to an SEC page warning investors of the scams in the industry. Heck, the fake scam even has a white paper.
Golem CEO Calls Ethereum the Most Promising Blockchain Platform
According to thenextweb.com, the CEO of Golem, Julian Zawistowski, thinks Ethereum is still the most capable blockchain platform in the market today. When asked about Ethereum’s scaling issues, he seemed confident in its ability to implement solutions such as sharding. He also insinuated that Golem has no plans to migrate from Ethereum or offer interoperability with other base layer protocols.
Thailand Successfully Regulates Cryptocurrencies and ICOs
Thailand has defined cryptocurrency as digital assets and tokens, which put them in the purview of Thailand’s SEC. This requires all crypto-related businesses to register with the SEC within 90 days. The regulation seems to be viewed as modestly favorable. It is not aimed at stifling the growth of the market, but is primarily focused on investor protection.
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