50° and Overcast
Image
So you want to purchase crypto after a year of scandals? Yes, they did put FTX founder Sam Bankman-Fried in Federal Prison. They also convicted Avi Eisenberg of criminal market manipulation. Do Kwon of Terra/Luna Stablecoin was found liable for fraud. These were just a few of the more publicize crypto fraud cases. You would think that crypto would be forgotten but it isn't. Crypto advocates are now using AI for consequential oversight to promote their companies. They are offering more transparency but there are too many loopholes that allow the scammers to bleed dry legitimate peoples money. Don’t be fooled.
If the crypto company doesn't put limits on what assets can be sold, who they can be sold too and offer complete disclosure, there still will be too many loopholes. Before you plan on investing your money in crypto there must be better government regulations that require rigorous scrutiny. That has not been the case with the SEC (Security and Exchange Commission) in spite of some of their latest press releases and the releases of major financial firms. Standard government regulations for crypto such as auditing, doesn't come close to securities and stocks regulations. What I am trying to say is that the crypto industry does not have enough consumer protection laws for anyone to try and invest their money. Anything that hints of self-regulation will lead to massive fraud. My friends beware. JG
