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

[Admin CampusCiti]

Nick

That’s where you are completely wrong. Japan, Singapore, Germany, The Netherlands, Singapore, Estonia have all embraced not just the technology but the cryptocurrencies.

https://www.coinist.io/a-list-of-countries-where-you-can-live-work-off-bitcoin/

Innovation is like that. It comes with the good, the bad and the ugly. I often ask whey we haven’t banned the internet because there is a really dark side to the Internet. The Dark Web where all sorts of bad things happen. It’s the nature of governments to be cautious but those forward thinking governments will not simply do a blanket ban. I recall during Moi’s time he banned the Fax Machine! 

Ali Hussein
Hussein & Associates
+254 0713 601113 

Twitter: @AliHKassim
Skype: abu-jomo
LinkedIn: http://ke.linkedin.com/in/alihkassim
Blog: www.alyhussein.com

"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought".  ~ Albert Szent-Györgyi

Sent from my iPad

> On 31 Jan 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=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
>> 
>> SEC.gov | SEC Halts Alleged Initial Coin Offering Scam
>> 
>> 
>> 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
> Email | Facebook | Twitter | LinkedIn 
> Skype: nick.ngatia | Phone: +254 (0) 711 42 2015  
> 
> "Development Towards Sustainability is far too more important to leave it to chance."
> ---------------------------------
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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.
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