tried to raise $500 million<\/a> through an ICO to build a floating casino called the Dragon Pearl. But the Macau Monetary Authority intervened by warning local financial institutions that they are barred from working with entities that raise capital through digital currency schemes.<\/p>\nWhile governments can better leverage against physical companies, online the challenge is much more difficult.<\/p>\n
This summer, Monster Byte Inc. sold $300,000 worth of coins in its company through an ICO. The capital was used to launch a cryptocurrency internet gambling platform, which is inaccessible in the US.<\/strong><\/p>\nAnd Unikrn, an esports betting platform that has billionaire Mark Cuban as an investor, is in the process of selling $100 million worth of tokens.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US Securities and Exchange Commission issued two advisories this week regarding the promotion of initial coin offerings (ICO) and the dangers of investing in such digital currencies. The first alert came soon after socialite Paris Hilton tweeted a message to her followers promoting the ICO of Lydian Coin, a cryptocurrency that can only be […]<\/p>\n","protected":false},"author":42,"featured_media":62200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,19,60],"tags":[],"acf":[],"yoast_head":"\n
SEC Warns Celebrities About Promoting Virtual Currencies, ICOs<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n