SEC joins ICO craze with satirical ICO to warn investors

16 May, 2018
by Ryan Boltman
News
SEC joins ICO craze with satirical ICO to warn investors

SEC has launched a fake ICO to help potential ICO investors look out for warning signs that an ICO might be a scam

The coin is called HoweyCoin. The ICO web page which can be found here, features everything an investor would typically expect to see on an ICO page.

HoweyCoin is supposed to represent a travel coin which can be used in paying for travel and trading fiat. The website comes with team information, pretty pictures and a whitepaper that remains extremely vague.

The SEC put the project together to educate investors on the potential risk of getting involved in fly-by-night ICO's.

When trying to invest in HoweyCoin, investors are taken to the SEC education website.

While most crypto enthusiasts see the SEC as a hindrance to the industry, they pose a valid point and potential investors in cryptocurrencies and ICO need to be aware of what they are investing in and understand the risks involved.

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