Sentences with phrase «kinds of cryptocurrency products»
Not exact matches
«We allege that AriseBank and its principals sought to raise hundreds of millions from investors by misrepresenting the company as a first - of - its - kind decentralized bank offering its own cryptocurrency to be used for a broad range of customer products and services.
http://www.the-blockchain.com/
AriseBank and its co-founders Jared Rice Sr. and Stanley Ford allegedly offered and sold unregistered investments in «AriseCoin» cryptocurrency by depicting it as a first - of - its - kind decentralized bank offering a variety of consumer - facing banking products and services using more than 700 different virtual currencies, the SEC's statement continues.
Co-director of the SEC's Enforcement Division, Stephanie Avakian, said, «We allege that AriseBank and its principals sought to raise hundreds of millions from investors by misrepresenting the company as a first - of - its - kind decentralized bank offering its own cryptocurrency to be used for a broad range of customer products and services.»
In an official news release Thursday, the state's Department of Finance (DATE) quoted director Gavin Lee saying investors should avoid «hype» when products or services involving cryptocurrency of any kind are involved.