Best ICOs to invest

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Frederik Nielsen - page 15

Frederik Nielsen has 165 articles published.

Frederik Nielsen
I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.

Cryptocurrencies for Kids?

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There was a time when children would read comic books.There was a time when children would save up spare change in their piggy banks.

Both are things of the past now, it would seem. The comic books have been switched out with iPads, and the piggy banks have now also been digitized.

Cryptos for kids?

Pigzbe is an app that works like a digital piggy bank, and is now available for children over the age of six years old.

The brain behind the app belongs to Filippo Yacob, and the aim of the project is very much the same as the old fashioned physical piggy bank: teaching kids about money.

As with other cryptocurrencies, Pigzbe works with tokens that children can store in their digital “piggy wallet”.

The tokens, based on blockchain technology, are called Wollo and can be purchased by adults as well – if they invest in the official ICO.

Wollo is the first cryptocurrency targeting children specifically, and the reactions to this invention have so far been mixed.

Some parental groups have pointed out that it is not an appropriate way to teach children about money, whilst cryptocurrency enthusiasts have noted that it is no different from an actual piggy bank.

Family-friendly ICO

Given that Pigzbe and Wollo are part of an official ICO, it means that it is of course also available for adults.

The family-friendly piggy wallet can be used by parents to reward their children for good behavior, or for doing household chores.

The tiny transactions are usually around one to three cents, so in essence the same as would go into a physical piggy bank.

Furthermore, the advantage Pigzbe has over other piggy bank apps, is that it does not charge the same transaction fees.

The founder of Pigzbe highlights the importance of teaching children about finances early on, to prepare them for adulthood later on.

The project was inspired by being unable to find a suitable piggy bank app for his own son, which would allow for tiny transactions.

How does it work?

As opposed to other apps, the Pigzbe app for children is more complex and immersive than the adult version, which has a simpler interface.

The aim of the app is to encourage giving small amounts as gifts, as well as to turn saving money into a fun and engaging game.

The children’s version of the app will include a pink controller that allows them to receive notifications from their parents and other relatives.

The parents, meanwhile, will have access to a black controller with which they can store the Wollo tokens offline.

The app also comes with a Wollo Card, which is a digital debit card that can be used in both online and offline stores to redeem the tokens for products and services.

As with any other online activity, Pigzbe comes with parental controls that allow them to restrict access to adult content.

Finally, the Pigzbe app allows for more transparency. Parents are now in full control of how much money their children have and what it is being spent on.

What do you think about cryptocurrencies for kids? Leave your comments below!

Bitcoin Continues to Soar

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In the last 48 hours, Bitcoin has seen an incredible rise in value of over $500.

Not is this great news for investors in Bitcoin, but the good fortune seems to have rubbed off on other cryptocurrencies as well.

Ethereum, Ripple and Bitcoin Cash have all, perhaps as a result of the halo effect, risen in value by 10-20% as well.

Since the crash in late December 2017, and the subsequent terrible first quarter of 2018, Bitcoin has made a remarkable come-back.

Bitcoin buckles the negative trend

Last week, the pioneering cryptocurrency broke the negative trend by increasing its value by over a grand in less than an hour.

Bitcoin is the most valuable cryptocurrency in the world, and it looks like it is bent on maintaining that spot on the crypto-throne.

Although far from its peak of over $19,000 back in December, the Bitcoin now has a healthy value of almost $9,000.

And yet this latest increase in value seems like a small fluctuation when compared to other cryptocurrencies like Ethereum and Ripple.

Ethereum has increased 10% in value in just 24 hours, and Ripple a staggering 19% in the same time.

This difference in fluctuation could be that Bitcoin is more established as a cryptocurrency, compared to Ethereum and Ripple.

Bitcoin Cash, however, has shown a similar rise to Ethereum and Ripple.

The relatively new cryptocurrency, which is also related to Bitcoin, rose by 15% in the same space of time, making it the fourth most valuable cryptocurrency in the world.

With the many good and bad news flooding the cryptocurrency market, it can be difficult to keep track of what is happening.

For now, however, it would seem that the winter is indeed over.

Why is the negative trend reversing?

There could be many reasons for this new rise in value.

Skeptics were noting that the newly imposed cryptocurrency regulations around the world would lead to the decline of cryptocurrencies.

Other news, however, have perhaps ensured that this does not happen.

Last week, Bitcoin and other cryptocurrencies were declared halal by an Islamic scholar in Malaysia.

This means that 1.8 billion more people around the world will have access to cryptocurrencies and can participate in the global market.

The head of the International Monetary Fund (IMF) also expressed her interest in the blockchain technology that has fuelled the rise of cryptocurrencies.

Bitcoin might continue to soar to unprecedented heights

Based on these good news for the cryptocurrency market, experts have predicted that Bitcoin could rise much higher than its peak in 2017.

Some have even predicted that Bitcoin could become as valuable as a quarter million dollars in the four years.

That is indeed good news for investors in Bitcoin.

Those who were distraught by the bad start to this year will now be able to face the rest of 2018 with a more positive outlook on the future.

What do you think the future holds for Bitcoin? Have you invested and are now holding on to your cryptocurrencies in the hopes that they will continue to rise?

Leave your comments in the section below!

PROJECT SHIVOM – The Future of Healthcare

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The future of healthcare?

Ever since the Human Genome Project, which for the first time allowed people to have their genomes sequenced, massive leaps have been made in healthcare.

Hereditary diseases of all kinds have been combated more efficiently, improving and saving the lives of countless people around the world.

Similarly, artificial intelligence has aided healthcare professionals by improving their systems and saving time as well as resources.

Genomic medicine and artificial intelligence has been revolutionary for medicine. The same could be said for the impact blockchain technology will have on the global economic system.

But could blockchain technology also be used in healthcare? Up until now, few have toyed with this idea.

Project Shivom is the ICO that will combine genomic DNA sequencing with artificial intelligence and blockchain technology to once again revolutionise the way we think about healthcare.

About Project Shivom

The main aim of Project Shivom is to make healthcare more personal, whilst protecting the identity of patients, as well as their personal data.

The team behind it claim that their platform will “allow the transition to value-based precision healthcare”.

The foundation of this ambitious project is the database: the Shivom team aims to build the world’s largest genomic and health database.

Using their platform, everyone will be able to have their genome sequenced and stored in the database.

Why would this be a good idea?

Because healthcare professionals and researchers can make use of the genomic data stored in the database to improve healthcare treatments.

In addition to contributing to this research, patients will also have access to the latest healthcare technology relevant to their specific condition.

Shivom wants an open web-marketplace, an eco-system if you will, where everyone can contribute to the advancement of medical science.

This includes governmental organisations, non-profit organisations, as well as for-profit businesses.

How does it work?

Imagine a place where patients, healthcare professionals, medical insurance companies, pharmaceutical companies, charities, scientific researchers, public institutions, and tech developers all can communicate, and trade knowledge, products and services.

A patient will have their genome sequenced, and be able to monetise their DNA data by receiving OMX tokens in return for adding it to the global database.

By using blockchain technology, the patient will not only remain anonymous, but also own their data and be in full control of what happens to it.

Researchers will then be able to access this data and use to further their scientific studies.

Pharmaceutical companies and healthcare insurance companies will be able to use these new findings to improve their products and services.

The limits for what can be achieved in healthcare research and development will be removed as the project goes global and includes people from all over the world.

Even low-income countries will be able to both contribute to the advancement of medicine, as well as benefit from it.

Have a look at the details, and check out the official video for Project Shivom on the right hand side of this page.

Let us know what you think in the comment sections below!

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ENTRY – Revolutionizing the Banking Industry

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Entry Money Review

The financial crisis of 2008 sent shockwaves throughout the world, and the effects of it can still be felt to this day. People were made homeless, others lost their jobs, and mistrust in the banking system was widespread. The financial crisis gave birth to movements like Occupy Wall Street. At the same time, another movement was born: blockchain.
The emergence of cryptocurrencies threatened to destabilize the status quo by offering the people a new way of conducting financial transactions. As the technology behind cryptocurrencies has continued to gain ground, people are also getting increasingly fed up with the current banking system.
International transactions cost a lot of money and take a lot of time, without adding any benefit to the users whatsoever.
The current banking model is flawed and outdated. There is too much paperwork, bureaucracy and risk involved.
ENTRY is a project that aims to disrupt the current system by offering a better alternative.
Say hello to a faster, cheaper and safer way of making financial transactions.

About ENTRY

The ENTRY platform is based on blockchain technology and makes use of smart contracts. The aim of the platform is twofold.
First, it will act as a bank where users can store their cryptocurrency tokens, make payments and lend money out.
They will also be able to transfer both cryptocurrency tokens and fiat money internationally, as well as make use of withdrawal services like ATMs.
The second aim is to function as a cryptocurrency exchange for businesses and private persons.

The team behind ENTRY realizes that transitioning from the current financial system to a new one will not happen overnight.
That is why their mission statement is to be “the gateway between traditional and new financial paradigms and systems led by cryptocurrencies and empower the financial ecosystem to have a framework that allows for interoperability between the two.”
With that said, the aim of the ENTRY project is to eventually phase out fiat money in favor of an economy based on cryptocurrencies.

entry

How does it work?

The general idea is to allow consumers to purchase goods and services online for cryptocurrencies, and the merchants to be paid in fiat money.
The online exchange will allow merchants to do conversions on the platform.
This will ensure they get the right price (minus the transaction fee) and avoid fluctuation and differentiation.
The only fiat currency that will be available in the beginning will be EUR, as the ENTRY project will target the Eurozone first.
The plan is to eventually expand to the global market and cover all fiat currencies.

What do you think?

For cryptocurrency enthusiasts, Entry sounds like a dream come true – maximum financial freedom and flexibility.

For online merchants, this project could also open up a whole new market of customers paying for goods and services with digital currencies.

Does Entry have the potential to revolutionize the way we do banking? Have you already invested in tokens?

Leave your comments below and let us know what you think about the Entry project!

bitcointalk username: Ico Friends

Taobao (Alibaba Subsidiary) Bans Cryptocurrencies

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taobao

Alibaba is perhaps best known for being the largest e-commerce marketplace in the world.

The platform is mainly geared towards the bulk sale of items of all kinds.

Many European businesses import goods from China by liaising directly with the manufacturers via Alibaba’s platform.

For smaller Chinese businesses or individuals, there is Taobao.

Set up in 2003, Taobao is owned by Alibaba, but functions more like a Chinese version of eBay.

Banning the sale of items related to cryptocurrencies is not a new phenomenon on Taobao.

Previously, sellers of tutorials on how to mine cryptocurrencies have had their items taken off the platform.

Now, however, Taobao is expanding its ruleset.

Anything remotely related to cryptocurrencies, ICOs, and blockchain will now be banned from the platform.

This also includes services like consultancies, ghostwriting, and technical services.

Bans are nothing new in China

For those who have been following the developments in China, this should come as no surprise.

ICOs and cryptocurrencies have not received a warm welcome.

The People’s Bank of China decided to ban all ICOs last year, and now they have banned cryptocurrencies altogether.

There is no ban on cryptocurrency mining yet, but given the current bans in place, it cannot be far away.

It is therefore understandable that Taobao has decided to penalize their users if they try to sell anything related to ICOs and cryptocurrencies.

If Taobao allowed their users to circumvent the bans issued by the People’s Bank of China, the whole platform would be at risk of being shut down.

Despite these bans, which could easily spell the end of the Chinese cryptocurrency community, many are optimistic.

Good news on the horizon

The People’s Bank of China recently had a change of leadership, and the new head of the bank has a very different view of the digital currencies.

According to Yi Gang, cryptocurrencies like Bitcoin provides the users with an unprecedented amount of freedom.

This stance could indicate that there is a good chance the People’s Bank of China will eventually revoke the bans.

Another factor that could give crypto-fans reason to be optimistic about the future is the Chinese government’s stance on blockchain technology.

Cryptocurrencies and ICOs have been banned, but blockchain has not.

That is because the Chinese government is very fond of the technology, and invested $1 billion in startup companies using blockchain.

Furthermore, the People’s Bank of China has the record for most blockchain related patents.

It, therefore, seems a bit counter-intuitive that the People’s Bank of China would issue the bans on ICOs and cryptocurrencies.

Why the mixed messages?

One of the reasons why could, of course, be that the Chinese government and the People’s Bank of China want full control over what the technology is being used for.

By limiting blockchain technology to the companies funded by the government startup fund, they will have that control.

What do you think about the new bans issued by the People’s Bank of China? And what about the Chinese government’s interest in blockchain?

Leave your opinions in the comment section!

IRS Questions Lack of Filing

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One of the reasons given for the sudden surge in Bitcoin value, which only happened recently, was that many American investors were selling their coins ahead of tax collection.

Whilst this may or may not have been the reason, the IRS (Internal Revenue Service) has now released data on exactly how many people have reported capital gains from their cryptocurrency investments.

The results are far from compelling – not even 1% of the traders dealing in cryptocurrencies have reported any of their activity yet.

With the deadline for tax filing fast approaching, the IRS questions the current state of affairs.

Few have reported capital gains from cryptocurrencies

The IRS has suggested that fewer than 100 individuals have reported any capital gains or losses on their cryptocurrency investments by April 13th.

Since there are a quarter million people thought to be involved in cryptocurrency trading, that comes out to less than 0.04%.

This is seen as somewhat suspicious, seeing as 2017 was a very good year for some – and very bad for others.

Regardless of what happened with the investments, the IRS expected quite a few reports on it.

That, however, did not happen.

Complexity could be the reason

One of the reasons for this could be the uncertainty surrounding how exactly to report such gains or losses.

A representative of Credit Karma, Jagjit Chawla, opines:

“There is a very good probability that the perceived complexities of reporting cryptocurrency gains are pushing filers to hold out till the quite past minute.”

However, the reporting of cryptocurrencies like Bitcoin should be nothing new to US investors.

The IRS has been providing guidance on how to report transactions for the past four years.

The fact that Bitcoin has been around, and presumably traded in, since 2008 should also be a cause for suspicion.

The IRS considers cryptocurrencies to be assets, which means that they are to be treated like any other physical property.

In this sense, cryptocurrencies are treated in the exact same way as making a profit from buying and selling houses or land.

Regardless of whether one is trading or mining cryptocurrencies, tax applies.

Nothing new under the sun

Despite the worryingly low figures, the IRS is used to this lack of activity.

The current figures are actually not very odd, considering that only 802 people filed any capital gains or losses back in 2015.

That said, the 2017 tax year saw a huge increase in cryptocurrency trading compared to the preceding years.

This has raised some suspicion and led some people to believe that cryptocurrency traders are underreporting on their activities.

The IRS, however, remains calm.

Although the deadline is approaching with increasing speed, there is still time for the cryptocurrency traders to file their capital gains and losses.

What do you think the reason for the late filing is? Are you a cryptocurrency trader? If so, why (or why not) would you wait with filing your gains and losses? Are the tax laws too complex?

Leave your comments below!

QOMPASS – Revolutionising Financial Markets

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Qompass Review

Qompass is an ambitious project with an even more ambitious vision: to revolutionize how the financial markets operate.

What is Qompass?

Qompass is a system that aims to provide users with a new way of accessing financial markets. Qompass comprises of three things: it’s a blockchain platform, it’s a mobile app, and it’s a debit card. It’s the Kinder Surprise of ICOs. The platform will be using Qompass tokens (called QPS), and the mobile app will function as a digital wallet, with which users can load credit onto their cards. The aim of the Qompass is to eliminate corruption on the global financial market by transforming it with blockchain technology.

Who is behind it?

The CEO of Qompass is Emmanuel Lim, who has over three decades of experience in data encryption and cryptography. Educated in Computer Science at Singapore Institute of Technology, his past experience includes working for Standard Chartered Bank as a head of their cybersecurity. Along with CTO Vladimir Okhrimenko and CFO Selena Neskovic, he founded Qompass in Hong Kong last year.

How does it work?

By using a combination of active leverage, artificial intelligence, and neural networks, Qompass aims to create an ecosystem of applications and protocols. In other words, the system will contain a number of services and products that will benefit users interacting with financial markets. As with other kinds of cryptocurrencies, Qompass is completely decentralized and protects the anonymity of its users. One of the added benefits is that the Qompass system will function much faster than current ones like Bitcoin and Ethereum. As a matter of fact, the developers promise that it will be able to process 30,000 transactions every second. One of the ways it will do this is by harnessing artificial intelligence. This will, in turn, lower the cost of usage, which will translate into lower transaction costs for its users. While the platform is built with financial transactions in mind, it is also designed with user customizability in mind.

What are the services and products?

Qompass promises quite a few interesting products and services for its users. The Qompass Trader uses artificial intelligence to analyze movements in the financial markets, and then provide the user with recommendations on what to trade when for maximum profit. The Open API Platform allows for financial institutions around the world to link up with the platform. The Crypto P2P Exchange is a peer-to-peer exchange that will allow users to cash out their QPS earnings through the financial institutions linked to the platform. The Blockchain-Based Financing will allow users to put down their QPS as guarantees on loans in other cryptocurrencies like Bitcoin. Finally, the Crypto Payment Cards will be the “debit card” that allows users to access the blockchain.

How much can you invest?

Qompass offers investors packages in three different tiers, that each come with different benefits. The Alpha Package (the smallest one) can be bought for just $1, and gives users the opportunity to double their investment each month, whilst paying a quarter of their earnings back into the platform. For those investing $10,001 or more, the Delta Package will allow for 200% return on investment each month, whilst only requiring 20% of the earnings to be paid in fees. Finally, the Omega Package ($100,001 and more) will give investors up to 300% back on their investment each month, and only requires 15% in performance fees.

bitcointalk username: Ico Friends

Is Bitcoin Making A Comeback?

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It was only a few days ago that journalists covering the fall of Bitcoin could still claim that the cryptocurrency was at its lowest point since its all-time high in December 2017.

Although the value of Bitcoin seemed to have stabilized in March, where it floated around $11,500 per coin, it plummeted further.

This steady decline was reflected in other cryptocurrencies like Ripple, Ethereum, and especially the altcoins.

Today, the tune is very different, as it would seem that the famous cryptocurrency has made a surprising, but not unwelcome, comeback in terms of value.

Bitcoin is back

Yesterday, the value of Bitcoin soared by a staggering 17%, which translated into an increase in value of more than $1,000.

Prior to this spike, the value was at an all-time low of $6,786, which meant that many investors had been losing sleep over the future of their assets for months.

The value of Bitcoin was yesterday morning at $8,011, which could on the surface seem like the Bitcoin is making a long-awaited comeback.

Many investors are therefore breathing a sigh of relief, as it could be a sign that the Bitcoin is on the way back up.

Skeptics don’t buy it

However, there are those who view this rise in value as a completely normal and predictable phenomenon.

Experts see this as a sign that investors have gone from long-term to short-term, meaning that day-traders are most likely the cause of the spike.

The head of BKCM, Brian Kelly, confirmed this in an official statement:

”Once bitcoin broke higher, shorts were squeezed and forced to cover.”

One of the developers for Cypher Capital seemed to agree:

“The ratio of short margin trades versus longs has been increasing recently. Buying volume ticked up today and a lot of these short trades got liquidated, helping fuel the rally.”

Others believe that the spike could be due to the fact that many Bitcoin investors owe taxes to the IRS, and are looking to pay off this debt by selling off their assets.

The host of the Bitcoin & Markets, Ansel Lindner, is one of those people:

“I think it’s just some pent-up market movement, [there is] some relief in the selling [ahead of tax day]”

The future’s still bright

What needs to be considered is the many bad news there has been in regards to the international cryptocurrency market.

Just recently, Canadian banks banned their clients from using their services to trade in cryptocurrencies.

This follows a string of other countries around the world which have imposed stricter regulations on cryptocurrency investors and exchanges.

These countries include, but are not limited to, the US, the UK, South Korea, Vietnam, India, and China.

What this means is that despite the increasing unpopularity surrounding cryptocurrencies, the perceived value is still high amongst the investors.

What do you think caused the sudden spike in Bitcoin? Do you think the experts are right in saying that it is simply to pay the IRS ahead of tax day? Or is it because the Bitcoin has stabilized?

Leave your comments below!

IAGON – The Cloud Technology of the Future

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Iagon Review

Since the emergence of cloud technology, businesses and private persons alike are storing their data remotely and using SaaS applications.

The cloud space is currently dominated by the likes of IBM, Microsoft, Google, and Amazon, as these giants have the capacity to host large amounts of data.

Just like the banks, however, their business relies on a centralized model – a model that will soon be outdated.

As the phenomena of Big Data and Artificial Intelligence become more prevalent in our society, the centralized models will not be able to cope with the increasing amounts of data.

Therefore, it would be advantageous if only there were a decentralized model businesses and consumers could rely on…

iagon1

Enter IAGON

According to their website, IAGON’s vision is “to create a Global Supercomputer, powered by Artificial Intelligence & Blockchain Technology”

Essentially, the company aims to marry two of the most revolutionizing technologies of the future: artificial intelligence and blockchain.

IAGON’s developers have created a platform that can be used by anyone on any smart device.

With its sophisticated AI, the platform is incredibly intuitive and only requires basic knowledge to operate.

By utilizing blockchain technology, the platform will furthermore provide its users with more safety than a centralized cloud service ever could.

The best part of it is perhaps the way users will be able to generate revenue for themselves via mining.

Whenever a user’s device is idle, the network will use its processing and storage capabilities, so no power ever goes to waste.

This means that all users in the network will essentially be using each other’s free storage, which is 100% safe due to the encryption.

In sum, IAGON offers a safer, faster, and wider-reaching solution than any current system out there.

iagon

So how does it all work?

Since the IAGON ecosystem depends on harnessing the processing and storage capabilities of the users in the network, it will only grow faster, stronger, and smarter as more users join.

As a user, you lend the idle power of your computer, server, data center or smart device, and receive tokens in return as compensation.

These tokens can then be traded for fiat money on any of the major cryptocurrency exchanges.

When you use the network for storage, you can rest assured that it will be safely encrypted – just like when you trade in Bitcoin or any other cryptocurrency.

Because the platform will integrate multi-distributed ledger technology, it will be able to utilize the networks of Tangle and Ethereum.

The network will also have contributors, offering their skills and capacities as and when they are available.

The network’s AI will then ensure that the contributors’ price is reasonable, by matching it to their level of expertise.

To summarize

IAGON is set to revolutionize the way we think about cloud technology and cryptocurrency mining.

Forget having to trust the current Internet giants with keeping your data safe in their centralized data centers.

Forget having to dedicate processing power and energy to mine for cryptocurrencies.

All this will change with IAGON.

bitcointalk username: Ico Friends

New Regulations from Canada to Vietnam

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The recent regulations rolled out across Western and Eastern countries do not seem to be letting up in the light of new issues.

Canadian Banks Impose Bans

Last month, the Canadian bank Toronto Dominion enacted a policy that would prevent their customers from buying cryptocurrencies using their services.

Another Canadian bank, the Royal Bank of Canada, also announced that it would begin to restrict the number of transactions involving cryptocurrencies.

Now the Bank of Montreal follows suit.

The bank, which is under the BMO Financial Group, just recently announced that their customers would not be able to use their debit and credit cards for the purposes of trading in (or with) cryptocurrencies.

This is could be seen as bad news for new and existing investors in cryptocurrencies, as their options will now be severely limited.

This has not stopped the traders, however. When one door closes, another one opens.

LocalBitcoins, which is a local P2P platform, allows for cryptocurrency transactions and has as a result of the bank ban increased their trades significantly – from $1.2 to $7.2 in just three weeks.

As with the recent bans imposed by social media platforms on the advertisement of cryptocurrencies, some investors even see the bank ban as a good thing.

Given that the whole philosophy behind cryptocurrencies is predicated on the fact that the current bank system is flawed, many welcome the ban as an opportunity.

By banning cryptocurrency transactions, banks are giving the investors one more reason not to use the traditional system to conduct business.

Skeptics of these new ways of doing business, as the traders do with LocalBitcoins, say that it will lead to disaster due to security concerns.

These concerns do not seem to phase Canadian cryptocurrency traders in the slightest, however.

Crypto-Scam in Vietnam Causes Trouble

Canada is not the only country recently taking a stricter stance on the cryptocurrency market.

Vietnam has recently experienced a massive case of fraud involving cryptocurrencies, and have as a result announced that Vietnamese traders should be wary.

As a result of this case, the State Bank of Vietnam and the Ministry of Public Securities have been told by the Prime Minister to impose stricter regulations on cryptocurrency trading.

The official website of the Vietnamese released a statement that said:

“Cryptocurrency investment and trading and raising money through initial coin offerings are evolving in a more complicated manner”

In the light of the recent scam, which is thought to involve the company Modern Tech JSC, the police authorities in Ho Chi Minh City have been put on alert.

Le Dong Phong, the chief of police in Ho Chi Minh City, made the following statement:

“All cryptocurrencies and transactions in cryptocurrencies are illegal in Vietnam. We are gathering information about the case, but officially we haven’t launched an investigation until we receive accusations from any of the alleged victims”

The Vietnamese banks have now been asked not to facilitate any further transactions involving cryptocurrencies.

What should be done?

What do you think can be done to prevent scams in the cryptocurrency markets? Do you think the restrictions imposed by Canada and Vietnam is the right response?

Leave your opinion in the comments below!

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