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

[qWainaina]

I think what should be of bigger concern is that $4 billion has been raised
by upstarts globally with very little raised in Africa leave alone Kenya.

VCs have been disrupted and with the right policies and regulatory
frameworks we can create a space that allows capital starved African
startups to raise much needed funds.

I submit we are looking at this opportunity from the wrong side of the
telescope much to our own detriment.

Our biggest problem is not lack of talent but capital and the exposure and
mentorship that comes with it!

I engage with many of the blockchain upstarts. Most will fail but those
that suceed will be very disruptive...

Humbly,

John Karanja

On 31 Jan 2018 08:07, "Nick Ngatia via kictanet" <
kictanet at lists.kictanet.or.ke> wrote:

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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>


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

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regulation. The network aims to act as a catalyst for reform in the ICT
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KICTANetiquette : Adhere to the same standards of acceptable behaviors
online that you follow in real life: respect people's times and bandwidth,
share knowledge, don't flame or abuse or personalize, respect privacy, do
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