The BTCC CEO, Bobby Lee, declared in an interview that he is "conservative", because he does not trust the "altcoins" or alternative cryptocurrencies created from an initial offer of coins (ICO). For Lee, only four digital currencies are recommended: bitcoin, ethereum, litecoin and bitcoin cash
Lee, who runs one of the world's leading bitcoin companies, told Business Insider that his refusal to face the altcoins is because they are "very risky." Consider that this type of investment is "nonsense" . In addition to adding that many cases of fraud have been discovered around the ICO , of which "unfortunately, there will be more."
With these statements Bobby Lee joins a large list of ecosystem actors and financial regulatory entities that have warned or announced that they do not participate or accept the much-anticipated initial offers of currencies.
In fact, China and South Korea banned the issuance of ICOs due to the risks and the lack of regulation in this regard; and different financial authorities have alerted citizens and investors of the risks involved in investing in this collection method.
Regarding the risks, Lee said that it is not about how cautious buyers should be, but about the intentions with which technology is being used, as this can work as a double-edged sword "if you have a mentality criminal".
Lee, who is the brother of Litecoin creator Charlie Lee, added that technology should not be blamed for the intentions of the people behind a certain project. Reason why the "almost libertarian of heart" recognizes that there must be certain regulations for the ecosystem of cryptocurrencies.
Regarding the regulations, we will still have to wait, because apparently in the legislative field, and since it is a cutting-edge technology, the organizations of many countries have decided to move forward in such a way that they can offer their citizens a framework of laws that, at least , start from knowledge.
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