(Using Funny Money for ICO’s could be Wire Fraud)
In the United States, mail and wire fraud is any fraudulent scheme to intentionally deprive another of property or honest services via mail or wire communication. It has been a federal crime in the United States since 1872.2
Written by Enpo Tu
. Contact the author.
All too often I am asked about my position on Initial Coin Offerings (ICOs) and Bitcoin. As a millennial financial advisor, my research, thoughts, and beliefs on this topic and proximity to users by age allow me to provide unique insight into this financial tool. I have created this white paper to compare ICOs and Bitcoin to an incomplete game of Monopoly and to expose some inherent flaws in the Bitcoin/ICO. Rather than thinking of BitCoin and ICOs as a new invention, I contend that these are merely tools that allow players to exchange Bitcoins (or in this case Monopoly Money) for global fiat currency.