China Center for Information and Industry Development altcoin pumps

[bbc.reporter]

It is surprising to know that the rankings came from the government. I do not think it's proper for government to rank  censorship resistance/decentralized blockchain. They will end giving undue advantages to  government friendly centralized blockchains

It is not a part of the Chinese government, I already edited my original post. It is a ranking service run by private consulting firm. However, it does not change that it might be corrupt and that it might be under the influence of certain Chinese billionaires who have invested in some projects in the cryptospace.



CCID Consulting was the first Chinese consulting firm listed in the Growth Enterprise Market (GEM, Chinese: 創業板) of Hong Kong Stock Exchange, and is a direct affiliate to the China Center for Information Industry Development (CCID Group). Headquartered in Beijing, CCID Consulting has branch offices in Shanghai, Guangzhou, Shenzhen, Nanjing, Wuhan and Chengdu, with over 300 professional consultants.

Source https://en.m.wikipedia.org/wiki/CCID_Consulting

[bbc.reporter]

The hype on China based Bo Shen's investments on EOS and Bitshares never stops. Another platform based in China is also Tron. It is no.2 in the China Center for Information and Industry Development's list of top cryptocoins when it replaced the former no.2 Ethereum, also a Bo Shen coin hehehe.

Source of hype https://insidebitcoins.com/news/weiss-crypto-4-cryptocurrencies-lead-the-pack-in-transactions/221046

[SMOKEU]

just watched out when are they going to pump those coins.. take an exit then buy again after,..

[bbc.reporter]

Can the SEC consider the China Center for Information and Industry Development a ratings agency like ICObench or ICOmarks? I reckon they function similarly and it would not be that dubious to speculate that they also accept payments from projects like EOS, Ethereum and Tron to shill.



The SEC penalized Russia-based ICO Rating for failing to disclose it was being paid to shill cryptocurrency projects. The enforcement action comes as the Commission continues to crack down on firms that tout crypto securities without disclosures.

ICO Rating is one of several mostly Russian-run crypto rating agencies, behind ICOBench and ICOmarks. The firm advertises itself as an “independent” rating and research service on a mission to “help the market achieve the necessary standards of quality, transparency, and reliability.”

However, it seems ICO Rating failed to adhere to its own mission statement. The SEC found that the agency covertly accepted payments to shill cryptocurrency securities that were supposedly being evaluated ‘independently.’

ICO Rating violated the anti-touting provisions of the Securities Act of 1933 because it “failed to disclose that it was paid by certain issuers whose ICO offerings it rated,” said the Commission.

ICO Rating agreed to pay disgorgement and prejudgement interest of 107,000 and civil penalties of $162,000, without admitting or denying the SEC’s findings, for a total of $269,000.

Read in full https://cryptoslate.com/sec-charges-ico-rating-shilling-crypto-projects-disclosure/