Security Exchange Commission Introduces HoweyCoinsThe Security Exchange Commission of the U.S has launched a mock website called HoweyCoins.com, which looks like a real cryptocurrency site, but is meant to act as a reminder to consumers not to be allured by mere marketing.
The SEC has been increasing their regulatory capabilities on digital assets, and part of their task is to remind the public to use due diligence before diving in headfirst into cryptos and Initial Coin Offerings. Caveat Emptor – buyer beware is the resounding message.
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The HoweyCoins.com site uses a mock ‘white paper’, endorsements from pretending celebrities and special offers which tell people by getting in now they will receive a buyer’s discount. And while the SEC makes a solid point and warning to speculators in the cryptocurrency world who may be enticed by the website and its ‘scheme’. It will be interesting to watch the reaction from the cryptocurrency community which has a tendency to react to ‘cynics’ with countermeasures.
Yaron Mazor is a senior analyst at SuperTraderTV.
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