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SEC stops alleged scam-ICO | BTC-ECHO

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that has us securities and exchanges Commission SEC held an initial coin Offerig, supposedly a fraud represents. There is a ICO of the AriseBank from the U.S. State of Texas. Investors who may have been the victims of fraud, to register with the SEC.

The American financial market regulator SEC stopped the ICO of the self-proclaimed “first decentralized World Bank”. Reason is listed as that the AriseBank and its co also Jared Rice have offered unregistered investments SR. and Stanley Ford and sold. Therefore, the AriseBank should have applied its ICO through social media channels, through public support by prominent personalities and more distribution opportunities and so a total of about $ 600 million of the targeted 1 billion already in one Took a two-month period.

In the context of the token sales of their Kryptowährung AriseCoin rice and Ford would have constituted the AriseBank its kind the first decentralized Bank, which offers its customers a range of banking products and it uses over 700 different currencies. To do this, an algorithmic trading platform has been developed that performs automated trades in different Kryptowährungen.

The SEC also maintains that the AriseBank has falsely claimed to have bought a deposit secured Bank (FDIC-insured), which allows you to insure the accounts of customers. Also, a VISA card issued by arise was promised the customer with which each of the 700 Kryptowährungen could be issued.

The Court accepted the requirements of the SEC and made it to the shops of AriseBank, as well as to freeze by Jared rice SR. and Stanley Ford. Thus the SEC to protect of the digital currencies intervened, before they could be embezzled. In addition, the SEC asked potential victims of fraud to contact her and to agree the way forward.


about Tobias Schmidt

 Tobias Schmidt is Tobias Schmidt since August 2017 as editor in the BTC ECHO working team. His studies in the subject of politics and Economics at the University of Münster signed with a Bachelor’s degree and was also active during his studies at the Department as a student assistant. In addition, he gained professional experience in parliamentary work and in strategic communication, before joining in the journalistic trade. Since 2017 he deals with the Blockchain technology, whereby it focuses in particular on the many different application possibilities in politics, economy and society.

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