Skip to content

About us

eCounsel group

A boutique firm with unparalleled expertise in business and technology. We have good command of industrial ecology and legal practice, and have undertaken highly regarded cases. Because the small business scope, we pay more emphasis on effectiveness and efficiency, and choose clients with deliberation. The managing partner not only has extensive experiences in various legal issues more over than 20 years, but invests and manages several technology companies. In addition, he always checks each case rigorously. Clients’ business objectives are our primary focus. To achieve the same in the most cost-effective fashion trumps all seemingly sophisticated legal discussions.

SEC Shows You What an ICO Fraud Look Like

2018 - 07 - 24

According to ICO consulting firm Satis Group’s report, near 80% ICO projects can be seen as fraudulent.

ICO is the hottest way for blockchain startups to raise funds. Companies can issue a token sale, which the investors would purchase the tokens using digital assets like bitcoin or ether. Launching an ICO project does not need to go through the same regulatory process like an IPO. Therefore, scams related to cryptocurrency are common, and given that the ICO trend is still booming, new types of crypto/ICO scams can be expected.

The SEC is the official agency in the U.S. that regulates ICO. Instead of releasing a boring 10-page reports on ICO scamming alerts, the SEC came up with a rather creative way to educate investors on fraudulent ICO – by launching its own (fake) ICO.

The SEC’s HoweyCoin “utilize the latest crypto-technology to allow travelers to purchase all segments without these limitations, allowing HoweyCoin users to buy, sell, and trade in a frictionless environment – where they use HoweyCoins to purchase travel OR as a government-backed, freely tradable investment – or both!” Sounds cool right? On HoweyCoin’s website, the ICO issuer tells us that it is fully approved by the SEC, with its own whitepaper and endorsements from industry/social leaders. Moreover, investors who invest in HoweyCoin will be “guaranteed” a 1-2 percent returns and enjoys high annual growth, etc. It is all too good to be true!

Generally, a fraudulent ICO project contains a whitepaper filled with complex yet vague languages, and lots of promises. The team that runs the project may look highly promising, with each of them claiming to be industry leaders (but you can’t find anything on them via the internet). Fortunately, investors who fell into the howeycoin scam will be redirected to SEC’s educational site. However, other ICO scams will be vicious and Investors should apply risk-based judgements and invest carefully.


  1. SATIS Group Report: ‘78% of ICOs are Scams’
  2. HoweyCoins
  3. The SEC Just Launched a Fake ICO Website to Educate Investors

Recommended article 

Lack of Knowledge in Law, A Cog Could Break The Machine

We have been the legal counsel for the company for a decade. It is a listed company in Taiwan, has a healthy growth in sales and EPS year over year and its stock price looks great.…

Crooked Construction Firms(Part 2)

追訴法律責任?大家別傻了。 一案建商,遠比消費者、比政府更精於算計,要比奸比賤,我們是贏不了的。 曾有律師投書向媒體表示:「像這種法律責任事沒有時效消滅的問題,就算公司結束了還是可以追究負責人。」 我們不這麼樂觀。 建案完銷,股東把賺的錢分一分,公司就辦停業或解散,你覺得董事長或總經理還會把錢留在身上、把財產放自己名下,等著將來自己起的樓被發現是海砂屋、或輕輕一震房子就倒時,供屆時賠償之用? 也許讀者認為可以用刑事責任逼他們展現誠意? 可預見的狀況是:賠償金十億,而這些不良建商負責人被法院以業務過失致死判二年,最後關個一年半就假釋在外。 或是開公司期間,這些建商的董事長和總經理,根本是每個月領三萬元車馬費的人頭? 那要不要再出個殺手鐧,立法禁止任何一個建商在房子蓋好後到住戶同意非因瑕疵而拆屋重建(例如都更)前,全部售屋所得均不得以股利或任何其他模式處分掉、更不准解散清算?(能想得出這種橋段的人肯定不知道憲法上的平等權和財產權保障是什麼意思) 故此,這幾十年來台灣建築業生態上常見的現象該如何解套,請見下篇「民刑事責任,對掃蕩瑕疵建案毫無幫助」。

Is ICO Token a Security?

The issuance of an ICO has been the hottest method for blockchain startups to get funds in the past two years. So hot that even non-blockchain startups and big public companies are diving into the trend.…