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Four of the eight arrested are law enforcement officials. According to the findings of the Special Investigation Team (SIT), 5,000 government employees and around 1,000 police personnel are among the victims of this scam. Do you have a job opening that you would like to promote on SSRN? The Texas State Securities Board (TSSB) formally released an article entitled “The Investor’s Guide to Cryptocurrency Offerings.” Overall, the TSSB states that most cryptocurrency investors are speculators, details the differences between fiat currencies and virtual currencies, explains the inner-functions of cryptocurrency, explains initial coin offerings (ICOs), warns investors of the risks associated with cryptocurrency, and mentions notable crypto-scams from the past and enforcement actions.
Chui, one of Zimbabwe’s foremost cryptocurrency traders and promoters, also doubts that official blockchain enthusiasm would soften the government’s crypto ban. Japanese banking giant Nomura launches ETH fund via crypto unit Laser Digital Bitcoin’s pseudonymous creator, Satoshi Nakamoto, built a decentralized system that no one would own but anyone could participate in. A constantly updated copy of the ledger recording all Bitcoin transactions—the blockchain—would be stored on the computer of anyone running the software. Although the ledger was open to all, Bitcoin transactions were meant to be anonymous.