SEC Weighs in on Initial Coin Offerings
As of August 2017, Initial Coin Offerings (ICOs) – a means of raising funds for a new cryptocurrency venture, whereby units of the new cryptocurrency are sold to early backers of the project in exchange for legal tender or other cryptocurrencies – were said to have collectively raised over $1.2 billion, surpassing early stage venture capital funding for internet companies. The value and nature of these transactions have, unsurprisingly, drawn the attention of regulators worldwide including a total ban on ICOs from the People’s Bank of China. On July 25, 2017, in response to criticism and concerns surrounding ICOs, . . . [more]


