Bitcoin Ponzi scheme. In July 2013, the SEC charged an individual for an alleged Bitcoin-associated Ponzi scheme in SEC v. Shavers. The defendant advertised a Bitcoin “investment opportunity” in a web based Bitcoin forum, promising traders up to 7% interest per week and that the invested funds can be used for Bitcoin activities. As a substitute, the defendant allegedly used bitcoins from new buyers to pay existing buyers and to pay his private expenses.
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This advert promotes digital cryptocurrency investing throughout the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU nations, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, together with the lack of principal.