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Are cryptocurrencies a fraud?

Many cryptocurrencies are seen as fraudulent because people exchange real money to purchase a coded ‘coin’ whose value is completely arbitrary; mo...

14 April 2021

Martin Cozens

Many cryptocurrencies are seen as fraudulent because people exchange real money to purchase a coded ‘coin’ whose value is completely arbitrary; most cryptocurrency cannot be spent and its value is purely speculative. The concept of cryptocurrency is not inherently fraudulent but the facilitation of unregulated cryptocurrency networks and the multitude of independent coin offerings (ICOs) has led to much fraudulent behaviour and many victims.

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