Welcome back everyone,
In this blog i will be talking about how promoting a crypto exchange can lead you to get arrested in your country. yes you have read that right so let's move on and know what we should always take care of before we decide to promote any crypto related project in the country.
A famous lawyer was recently detained along with few other people in Hong Kong for promoting a Crypto Exchange known as JPEX. Now this exchange was alleged for running their services without a legal license.
This was not the only reason why people promoting the exchange were detained. Recently this exchange freezed a huge amount of money onto their exchange. According to a report there are around 1000 police complaints against the exchange where people reported about their funds being frozen on the exchange.
Now good thing is that JPEX has said that they will hire a team of people who will look in to this issue and help with the withdrawal of the funds. I really hope that happens as funds frozen are worth more than $12 million.
Now let us understand if promoting a crypto exchange or any other crypto related project illegal or not.
Can You Promote Crypto Exchanges / Crypto Projects in your country ?
The first and very important thing you must know is that whether crypto is totally illegal in your country or not. If it's illegal without any discussion or regulations that are being talked about then it is not a good idea to promote any crypto related projects or exchange in your country.
Now let's assume that crypto is not illegal in your country and the government promotes and appreciates the blockchain technology in your country. Can you now promote crypto related projects in your country ?
Well the answer is yes as well as no depending upon which projects or exchanges you are promoting.
If you are promoting a crypto exchange that does not have a legal license and that has been known for false activities in the past, you can get yourself arrested for promoting such a exchange as that will mislead people towards this exchange that will eventually leads to money loss to countless number of people.
Now on the other hand, if there is a project that is well known, have license to run all it's services and that also has positive reviews for it's services can be promoted but that too at some extent.
You have to learn this that you can't get too excited spreading the word about the crypto exchanges, specially avoid making statements like double your money, earn xyz percentage, etc.
Recently in my country there is a project named TLC which is being promoted at a huge level. Even big celebrities are promoting it but if people have brain they will go and do their own research before putting their money into this project.
They are nothing but a multi level scam in the name of blockchain and they do not have a license to one of their exchange they talk about the most. On top of it they promote and claim of giving people lakhs and crores of rupees on different occasion and this is a huge scam for sure.
So let's conclude our blog and end this so that we get to know what to do and what not to do while getting indulge with crypto exchanges.
Conclusion
First of all make sure that crypto is not illegal in your country.
Research on the project before promoting it, make sure to see if the project is known for false activities in the past and if it has a license / or if it has all the necessary requirements fulfilled to run in your country.
Do not make statements that promise high returns in the name of any crypto related project. Just share what the project is and why it is a good project.
Always set a boundary line for yourself so that you do not get too excited promoting a exchange.
Lastly ask people to do their own research before deciding what they want to do. Don't misuse their trust as everyone's money is hard earned.
That is all for this blog, I hope i was able to aware and share about promotions in crypto Industry and things to take care while we do it.
Thank You