[2018-01-04]NASAA Warns Investors About Crypto And ICOs, SEC Approves

[Diced90]

Today, Jan. 4, the North American Securities Administrators Association (NASAA) released a warning  for Main Street investors regarding the risks associated with cryptocurrencies and Initial Coin Offerings (ICOs).

The warning was promptly followed by a statement from the US Securities and Exchange Commission (SEC) that commended and reiterated the NASAA’s message.

The NASAA statement encouraged investors to look “beyond the hype” when considering cryptocurrencies and their derivatives, in order to better understand the associated risks.

Joseph P. Borg, NASAA President and Director of the Alabama Securities Commission, was quoted in the statement saying:“Investors should go beyond the headlines and hype to understand the risks associated with investments in cryptocurrencies, as well as cryptocurrency futures contracts and other financial products where these virtual currencies are linked in some way to the underlying investment.”
read more https://cointelegraph.com/news/nasaa-warns-investors-about-crypto-and-icos-sec-approves

[iamTom123]

I fully agree with their statement. Cryptocurrency investors must never be blind to just jump into any kind opportunity in this fledgling industry. We have to know what we are getting into not unless we are just getting those coins/tokens for free (example is bounty hunting) but if it does involved money then we have to do our due diligence. However, this is quite true with anything where we are putting our money with cryptocurrency or otherwise. Investing into something means it is our responsibility come what may and we should never blame anyone in case there will be misfortune. When we are supporting a project under the ICO platform we are hoping that the project will eventually take off, make money and become stable so that the value of the coins/tokens we are getting will also go up. Nothing is guaranteed here and even in traditional investment tools there is no such a thing...there will always be risks and there is a possibility we can be exposed to a project which may fail or worse can become a scam. Such is the situation when we are staking our part in the pioneering stage of a new platform or technology. Only those having a brave mindset and a risk-taking attitude should be a partr of this new and exciting world and if you are not then learn to be one.