In a surprising turn of events, the US Securities and Exchange Commission has launched its own initial coin offering dubbed HoweyCoins.
Anyone looking for a hot new initial coin offering (ICO) should look no further than the US Securities and Exchange Commission’s brand new token sale for HoweyCoins. States the regulatory authority in an official press release:
If you’ve ever been tempted to buy into a hot investment opportunity linked with luxury travel, the Securities and Exchange Commission has a deal for you.
Check out the SEC’s Office of Investor Education and Advocacy’s mock initial coin offering (ICO) website that touts an all too good to be true investment opportunity. But please don’t expect the SEC to fly you anywhere exotic—because the offer isn’t real.
Unsurprisingly, the SEC isn’t actually launching its own token sale. Rather, the independent agency of the United States federal government has set up a mock website in order to educate investors about the perils of investing in fraudulent ICOs.
Clicking “Buy Coins Now” on HoweyCoins.com — a tongue-in-cheek reference to a landmark US Supreme Court decision in 1946 — will not actually sell you coins, but rather offer tools and advice from the SEC and other financial regulators.
The website has reportedly been set up to protect regular investors, and “features several of the enticements that are common to fraudulent offerings, including a white paper with a complex yet vague explanation of the investment opportunity,…
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