The SEC Just Launched a Fake ICO Website to Educate Investors

The U.S. Securities and Exchange Commission wants to ensure investors can identify fraudulent initial coin offerings – even if it has to launch its own to do so.

The regulator announced Wednesday it has launched a mock ICO called HoweyCoin, presumably named after the Howey Test, which “touts an all too good to be true investment opportunity.”

However, the company notes, “the offer isn’t real.” Users who try to invest in the token sale will instead be redirected to the regulator’s education tools, which are aimed at pointing out the signs of fraudulent token sales

According to the HoweyCoin website, most travel businesses “require processing, centralized currency, and most importantly, nickel and dime fees that add up to literally billions.”

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