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Cryptocurrency scams in China and India show regulation is always favorable to banning


It appears that outright bans aren’t exactly helping governments fight cryptocurrency scams. Or, at least, that is what frequent reports coming from India and China would suggest. Authorities in India have detained six people — including a police officer — in relations with an initial coin offering (ICO) scam exceeding 140 million Indian rupees (approximately $2 million), local daily Hindustan Times reports. The scam came to light when a local businessman filed a report with the police in the Indian state of Gujarat. He stated that he was lured into investing in the “NCR Coin” ICO with promises of great…

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