SHE IS NOW HEAD OF THE CIA.
WE WILL BE WATCHING ALL OF
THIS IN THE DECISION SHE
MAKES.
THE GLOVES ARE OFF.
FLOYD MAYWEATHER STEPPED INTO
THE RING AFTER FINANCIALLY
BACKING THE FOUNDERS OF A
$32 MILLION ICO.
IT'S A CRYPTO CURRENCY
COMPANY.
THE FOUNDERS, THEY'VE BEEN
INDICTED FOR DEFRAUDING
INVESTORS.
FLOYD MUST NOT BE HAPPY.
HE'S A SMART IS THIS GUY AND
THEY GET SUCKED INTO THIS KIND
OF THING.
THE SECURITY AND EXCHANGE
COMMISSION SAID WE ARE GOING
TO TAKE MATTERS INTO OUR OWN
HANDS.
A LOT OF THE FRAUD THAT'S OUT
THERE WHEN IT COMES TO CRYPTO
CURRENCY, LOOK AT THIS
WEBSITE.
THIS IS THE WEBSITE CALLED
HALLE COINS.
THERE'S A TOKEN SALE AND THEN
IF YOU GET IN EARLY, THERE'S A
WHITE PAPER THAT LOOKS
LEGITIMATE AND IF YOU BUY NOW
YOU'LL RECEIVE DOUBLE
DISCOUNTS.
YOU SEE THIS CHAMPAGNE AND USE
A LOOK AT THIS, ISN'T THIS
FABULOUS.
IF YOU BUY SINGLE COMING TO
THE 25% DISCOUNT.
THEN SILVER AND THEN HERE WE
HAVE SOMETHING ELSE IN ITALY.
THE TEAM LOOKS HIP AND YOUNG
AND SMART AND FABULOUS LET'S
GO BUY IT.
LET ME CLICK ON THIS AND TELL
YOU HEY, I'M IN FOR THE
SILVER.
I'M NOT TO GO CRAZY AND THEN
IT BRINGS YOU TOO
INVESTOR.GOV.
IT SAYS IF YOU ARE SPOTTED TO
INVESTMENT OFFER LIKE THIS YOU
COULD HAVE BEEN SCAMMED.
HOWIE COINS ARE COMPLETELY
FAKE.
HERE TO WEIGH IN ON CRYPTO
REGULATORY IS JEFF.
YOU'RE AN EXPERT IN THIS KIND
OF STUFF.
THIS IS MARK PETER LOOK SMART
TO ME.
PEOPLE GET SUCKED IN AND THEY
LEARNED VERY QUICKLY AND IT'S
NOT AN EXPENSIVE LESSON.
>> THANKS FOR HAVING ME.
AND IT'S REALLY TERRIFIC THAT
THE SEC HAS DONE THIS.
ONE OF THE IMPORTANT MISSIONS
FOR THE SEC IS INVESTOR
PROTECTION.
WITH THESE NEW CYBER
CURRENCIES AND COIN OFFERINGS
OR TOKENS, IT'S REMOVED A LOT
OF THE FRICTION THAT STOOD IN
THE WAY OF FRAUDSTERS AND
THEIR MONEY.
THE SEC FORMED A SPECIAL
CYBERCRIME UNIT TO PROTECT
PEOPLE, BUT THEY ARE ALSO
TRYING TO BALANCE THEIR
MISSION OF CAPITAL FORMATION
AND LETTING INVESTORS HAVE
MORE DEMOCRATIC ACCESS TO
THESE.
THERE'S A LITTLE BIT OF A
BALANCING ACT.
ON ONE HAND TRYING TO CRACK
DOWN ON FRAUD BUT THE OTHER
HAND THERE TRYING NOT TO
SQUEEZE THE LIFE OUT OF ALL OF
THIS.
>> EXACTLY.
IT'S A VERY FINE LINE TO
WALK.
YOU DON'T WANT TO CRUSH A
BRAND-NEW OPPORTUNITY.
WE'VE HAD THE RIPPLE PEOPLE ON
AND THERE'S A LEGITIMACY TO
THAT.
THERE'S A TESTIMONIAL, WE
ANTICIPATE OVER 1% DAILY
RETURNS DOUBLE, HE GOES ON AND
ON AND THEN IT SAYS CHECK OUT
THESE MESSAGES FROM OUR
CELEBRITY PROMOTERS.
THEY EVEN USE A BOXING CHAMP
WHICH BRINGS US TO FLOYD
MAYWEATHER WHO OBVIOUSLY ALSO
GOT TRIPPED INTO THE SCAM.
I DON'T KNOW WHETHER HE LOST
MONEY BUT THIS COULD HAPPEN TO
ANYBODY.
WHAT THE SEC HAS DONE IS
THEY'VE TAKEN A LOT OF THE
PATTERNS THEY DESCRIBE IN
GREAT DETAIL AND THE
COMPLAINTS IN THAT CASE AND
THEY'VE APPLIED THOSE HERE.
THEY CLAIM TO HAVE
PARTNERSHIPS WITH PEOPLE THEY
CAN'T TELL YOU ABOUT.
IT'S BETTER THAN A LOT OF
WHITE PAPERS WE'VE SEEN.
>> I THINK THE SEC IS TRYING
TO WALK THIS VERY FINE LINE OF
PROTECTING PEOPLE AND DOING
THIS JOB.
>> I THINK WHAT THEY'RE DOING
IS A BALANCING ACT.
I THINK THEY WILL TRY TO BE
VERY FAIR.
THE DIVIDING LINE WAS LAST
JULY WHEN THEY APPLIED THIS
HOW WE TEST WHICH IS BASED ON
THE SUPREME COURT CASE
HOW WE TEST WHICH IS BASED ON THE SUPREME COURT CASE.
THEY PUT THE WORLD ON NOTICE.
THE ONE THING THAT WAS VERY
INTERESTING ABOUT THE WAY THEY
WENT ABOUT IT IS THE WHITE
PAPERS AND ALL THE DIFFERENT
CLAIMS THAT WERE MADE, HOW THE
GOVERNMENTS WORKED, BUT THEY
DIDN'T ACTUALLY PUNISH
ANYBODY.
DIANE AWAY WAS A FAIR WAY TO
DO IT.
THEY PUT THE MARKET ON
NOTICE.
FOR THOSE WHO ARE
CONSTITUTIONAL LAW SCHOLARS,
IT'S A LITTLE BIT LIKE THE
PRINCIPAL REVIEW WHEN IT WAS
ESTABLISHED.
>> THANK YOU FOR BEING HERE.
I DIDN'T THEY TAKE