Recently, the US Securities and Exchange Commission (SEC) designed and released an initial coin offering (ICO) scam website of its own as an attempt to prepare itself for cryptocurrency scams. This move is a great way to let investors be aware of the treats in the cryptocurrency world.
The SEC scam website notes: “Combining the two most growth-oriented segments of the digital economy.”
Blockchain technology and travel, Howeycoin is the newest and only coin offering that captures the magic of coin trading profits and the excitement and guaranteed returns of the travel industry. Howeycoin will partner with all segments of the travel industry (air, hotel, car rental and luxury segments) earning coins you can trade for profit instead of points.
Jay Clayton, the SEC Chairman described it as a really novel idea. He also went on to explain that the rapid growth of the ICO market and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud. Distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. I encourage investors to do their diligence and ask questions.
Also, the SEC Chief Counsel, Owen Donley explained how con artist can quickly build an attractive website and load it up with convoluted jargon to lure investors into a phony deal. But fraudulent sites also often have red flags that can be dead giveaways if you know what to look for. The website www.honeycoin is an in-house SEC project they were able to develop in relatively less time. Howey is derived from the landmark 1946 US Supreme Court decision, SEC v. W.J. Howey Co. This decision guides the definition the regulator uses to this day in determining what constitutes a security; a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.
The best part of the website states: “We anticipate OVER 1% daily returns, with DOUBLE 2% returns on Tier 1 investors in pre-ICO stage purchases. The average registered coin return over a two month period in 2017 was an amazing 72%.”
Based on market conditions, including record-setting prospects in both the digital asset and travel industries, we expect to surpass that BEFORE the Tier 2 offering closes. HODL! We also forecast a minimum growth rate of between 7% to 15% annualized, making Howeycoins attractive for long-term investment. In addition, Howeycoins can serve as a Guaranteed hedge against inflation and market loss.