Scammers Continue To Give A Bad Name To Crypto!
18 Jun 2020 — The Securities and Exchange Commission of Philippines has just warned anew against the Bitcoin Revolution, which presents itself as a cryptocurrency trading program purportedly endorsed by government officials, businessmen, and even celebrities. According to report, aside from the missing registration and licenses, the quick and unrealistically high return promised, presents a red flag for a Ponzi scheme.
Many people jumped at the opportunity to make money quick during the ICO boom. Scams and hacks were common, creating great challenges subsequently for #STO s as its reputation is affected by association.
To fully realise its potential, the #crypto community must work within the confines of the regulatory environment so as to enable more protection to investors and thereby minimise fraudulent activities.
The good news is that many jurisdictions are deeming digital securities as securities under existing classifications and regulations. With more and more regulators from around the world, providing some form of regulations if not, seriously considering legislation, this will definitely lead to greater adoption in the near future.