"In addition to being attached to a pyramid scheme, your first major red-flag with the KaratBank Coin ICO is the list of restricted countries.

United States of America citizens, residents (tax or otherwise) or green card holders as well as residents of Canada, the Peoples Republic of China or the Republic of Singapore are not eligible to participate in the KaratBank ICO.

The United States of America include Puerto Rico, the U.S. Virgin Islands, and any other possessions of the United States.

ICOs are not illegal in the US or Canada. In the US though ICOs are typically considered securities and require registration with the SEC.

Why Karatbars International want nothing to do with US regulators should be obvious."

KaratBars International to launch KaratBank Coin ICO