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RE: Texas state securities serves Bitconnect an emergency cease & desist order
Even if this were the case, who cares? People should have the freedom to invest their money how they want. Even if it is a Ponzi scheme, losing money to a criminal is one of the best lessons someone can learn on how to properly handle their money.
This is in principle how free markets work. One is just as free to make money as they are to lose it.
But isn't cryptocurrency so good of an investment that it does not require a store front shop with a snake oil salesman. Why do they make dubious claims like 40% interest. These claims are false and are intended to defraud the public.
Fraud is not just against the law it is against society's best interest. They should stop making dubious claims about their investment and show how good their offering was and leave it at that. That is what other big name cryptos are doing.