'Gold-Backed' Crypto Token's Promoter Investigated by Florida Regulators | Metals Mine

  • 'Gold-Backed' Crypto Token's Promoter Investigated by Florida Regulators

    From coindesk.com

    A German company that claimed to raise $100 million in a 2018 initial coin offering (ICO) is being investigated by Florida financial regulators, CoinDesk has learned. Karatbars International GmbH has announced plans to follow its first token sale with another one in December 2019. While the 2018 token sale was for its allegedly gold-backed KaratGold Coin (KBC), this year the company has been promoting a KaratBank Coin connected to a “cryptocurrency bank” in Miami. The claim about a cryptocurrency bank seems to have landed the firm in hot water with the Florida Office of Financial Regulation (OFR). “Karatbars is ... (full story)

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auricforecas
Oct 4, 2019 6:02pm
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That is why we need some official alternative, some government option for people to choose from... Because those kind of news certainly do not help with the the image of gold-backed crypto solutions... Some countries are looking up for this btw, hope they get the smarts and guts to pull it off... Would love for countries to compete which one will attract the most people/volume with their attractive solution. That would be a healthy competition or "trade *something*". Creative style...
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