SEC Shows Investors What a Cryptocurrency Scam Looks Like

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Washington wants you to know what a cryptocurrency scam looks like—so regulators made one up.

The Securities and Exchange Commission—an 84-year-old agency not known for its digital communications savvy—on Wednesday launched a website that touts a fake initial coin offering, an unregulated way of raising funds that has raised over $12 billion. The SEC says many ICOs are probably fraudulent, with bad guys evading investor protections and selling digital tokens that turn out to be worthless for the buyers.



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