A Malaysian initial coin offering (ICO) issuer has been flagged by the country's central bank for stepping outside the rules to promote its token sale.
In a cautionary note released on Sunday by Bank Negara Malaysia (BNM), the central bank took aim at a cryptocurrency project named Coinzer, which it says used the BNM logo and the Jata Negara, Malaysia's coat of arms, in its proposed token design, white paper and website.
A picture posted by the central bank further shows that, in addition of the logo and coat of arms, the design also incorporated the 14-pointed Star of Malaysia symbol and Malaysia's country code.
https://www.coindesk.com/malaysian-central-bank-slams-ico-for-misleading-logo/
In a cautionary note released on Sunday by Bank Negara Malaysia (BNM), the central bank took aim at a cryptocurrency project named Coinzer, which it says used the BNM logo and the Jata Negara, Malaysia's coat of arms, in its proposed token design, white paper and website.
A picture posted by the central bank further shows that, in addition of the logo and coat of arms, the design also incorporated the 14-pointed Star of Malaysia symbol and Malaysia's country code.
https://www.coindesk.com/malaysian-central-bank-slams-ico-for-misleading-logo/
This is totally insane! You know what the effect of this will be? Surely conservatives will take this against Bitcoin and other ICOs yet again. Every time crazy people do such crazy things, the value of Bitcoin substantially suffers! This is not doing good to all ICO investors! This is something unethical people know nothing about. All they are after for is to sway or entice people into the belief that they are up to something legitimate but look at what they are doing! I cannot blame governments to be really against ICOs because it is a tool that is conveniently used by criminals to prey on innocent people. There is just too much privacy (encryption) that governments can hardly protect its people from getting harassed and preyed on. As a result, it causes the economic conditions of a sovereign State to suffer.
