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Screenshot of a breaking news alert e-mail from Q2 2017
The SEC has decided to go for an unconventional manner to teach people about ICOs and related scams. The SEC has just launched its very own fake cryptocurrency website, called HoweyCoin website.
According to press, the SEC chose the Howey Coins because of the so called Howey Test, where the “an all too good to be true investment opportunity” theory holds.
The “creative” website of the ICO involves all regular sections that most ICO websites have at least initially, such as About, Meet the Team, Testimonials, Contact etc. sections. However, if a user tries to get involved with the ICO, the links will redirect them to the real SEC’s website that educates people on ICOs, scams and fraudulent activities.
Howey Coins are advertized as the future of the travel industry. The white paper of the ICO goes on to explain:
“Instead of currencies controlled by national governments, different types of cryptocurrencies and digital tokens associated with the types of services or goods you are looking to purchase will bridge the efficiency of the digital world with the traditional friction of a physical economy. HoweyCoins will be the cryptocurrency standard for the travel industry.”
The returns promised by the Howey Coins are in the range of 1% – 2%, and the team urges the investors to hold on to their investment, as it’s going to be valuable in the future.