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

[Josiah Mugambi]

If you are a US citizen on Coinbase, I'm reasonably sure you need to pay
your taxes.

On Wed, Jan 31, 2018 at 6:13 PM, 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=hotma
>> il.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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> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform
> for people and institutions interested and involved in ICT policy and
> regulation. The network aims to act as a catalyst for reform in the ICT
> sector in support of the national aim of ICT enabled growth and development.
>
> 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
> not spam, do not market your wares or qualifications.
>
>


-- 
Josiah Mugambi
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