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

Wed Jan 31 20:48:25 EAT 2018

Completely!

Ali Hussein
Hussein & Associates
+254 0713 601113 

Twitter: @AliHKassim
Skype: abu-jomo
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"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought".  ~ Albert Szent-Györgyi

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> On 31 Jan 2018, at 8:16 PM, qWainaina via kictanet <kictanet at lists.kictanet.or.ke> wrote:
> 
> 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
>> 
>> 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
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> 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.
> 
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