[kictanet] AriseBank: SEC Halts Alleged Initial Coin Offering Scam

[Nick Ngatia]

This is no surprise.

With no possibility of regulating or taxing bitcoin transactions, I doubt
whether any government will ever embrace bitcoin or any other
crypto-currency.

To governments, anything that takes away possible tax income is
non-negotiable!

On Wed, Jan 31, 2018 at 3:40 PM, Lawrence Njogu via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> This is a BIG challenge for all world governments; it is a global
> megatrend and no one has an answer yet if/how/when to regulate
> cryptocurrencies.
> ------------------------------
> *From:* kictanet <kictanet-bounces+lnjogu=hotmail.com at lists.kictanet.or.ke>
> on behalf of WANGARI KABIRU via kictanet <kictanet at lists.kictanet.or.ke>
> *Sent:* Wednesday, January 31, 2018 7:06 AM
> *To:* lnjogu at hotmail.com
> *Cc:* WANGARI KABIRU
> *Subject:* [kictanet] AriseBank: SEC Halts Alleged Initial Coin Offering
> Scam
>
>
> SEC.gov | SEC Halts Alleged Initial Coin Offering Scam
> <https://www.sec.gov/news/press-release/2018-8>
>
> SEC.gov | SEC Halts Alleged Initial Coin Offering Scam
> <https://www.sec.gov/news/press-release/2018-8>
>
>
> <https://www.sec.gov/news/press-release/2018-8#>
> <https://www.sec.gov/news/press-release/2018-8#>
> <https://www.sec.gov/news/press-release/2018-8#>
> <https://www.sec.gov/news/press-release/2018-8#>
> <https://www.sec.gov/news/press-release/2018-8#>
> SEC Halts Alleged Initial Coin Offering  Scam
> FOR IMMEDIATE RELEASE
> 2018-8
> Washington D.C., Jan. 30, 2018 —
> The Securities and Exchange Commission obtained a court order halting an
> allegedly fraudulent initial coin offering (ICO) that targeted retail
> investors to fund what it claimed to be the world’s first “decentralized
> bank.”
> According to the SEC’s complaint, filed in federal district court in
> Dallas on Jan. 25 and unsealed late yesterday, Dallas-based AriseBank used
> social media, a celebrity endorsement, and other wide dissemination tactics
> to raise what it claims to be $600 million of its $1 billion goal in just
> two months.
> AriseBank and its co-founders Jared Rice Sr. and Stanley Ford allegedly
> offered and sold unregistered investments in their purported “AriseCoin”
> cryptocurrency by depicting AriseBank as a first-of-its-kind decentralized
> bank offering a variety of consumer-facing banking products and services
> using more than 700 different virtual currencies.  AriseBank’s sales pitch
> claimed that it developed an algorithmic trading application that
> automatically trades in various cryptocurrencies.
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> With the ingenuity and open innovation in the crypto world, this must make
> someone refer to what CBK said once....or alluded to.
>
> Be blessed.
>
> Regards/Wangari
>
> ---
> Pray God Bless. 2013Wangari circa - "Being of the Light, We are Restored
> Through Faith in Mind, Body and Spirit; We Manifest The Kingdom of God on
> Earth".
>
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>


-- 
--------------------------------

*Nick Ngatia*
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