The Hong Kong Securities and Futures Professional Association also suggested that the region’s authorities could implement Islamic Banking.
An initial coin offering, or ICO, is a controversial fundraising method for launching blockchain and cryptocurrency networks that involves the sale and distribution of a new crypto asset in exchange for other tokens, commonly Bitcoin (BTC) and Ether (ETH).
During the “ICO mania” of 2017 to 2018, projects collectively raised billions of dollars in capital, largely through nonaccredited investors.
This funding method has since lost most of its legitimacy, both inside and outside the industry. Many ICOs were clearly frauds or, at best, operating in regulatory gray areas. Over the past few years, regulatory agencies such as the United States Securities and Exchange Commission,or SEC, have brought legal action to past and present ICOs, slowly creating legal precedent and guidelines for future ventures.
While the ICO is now a precarious fundraising method for projects and investors alike, it did showcase a powerful use case of blockchain in permissionless fundraising at incredible scale. Over time, the launch methods of cryptocurrency networks will become more sophisticated, safe and, perhaps, regulatorily sound.
Orica NFT’s charity efforts have succeeded, but its tokenholders have not, and up until now, its co-founder was nowhere to be found.6819
The EOS Network Foundation has called on plaintiffs to drop the $22-million settlement with Block.one weeks after initiating a new class action.8036
Block.one owes much more to EOS investors than just $22 million after the $4-billion ICO, EOS Network Foundation CEO Yves La Rose believes.8490
MATIC price surged due to favorable regulation, increased network use, and an anticipated Polygon 2.0 upgrade that could see a rebrand to POL.8203
Venture capitalists have favored ICOs in recent years, but Bitcoin-related startups are seeing renewed interest from investors.7256
The court case between SEC and Ripple Labs has been ongoing for nearly two and a half years, but a summary judgment ruling could be made any day.24083
The regulator nabbed the crypto ATM operator turned exchange for securities law violations over its sales and statements of a crypto token.3498
As an MIT professor in 2018, Gary Gensler didn’t think most ICOs triggered United States securities laws.8219
The latest proposal by the SEC of Thailand follows a series of regulatory changes targeting the digital asset market in the country.10357
The Titanium Blockchain executive has been finally sentenced after pleading guilty in July last year.5580
Crypto launchpads allow new crypto projects to raise funds while giving investors first access to tokens. Here’s how they work.14944
His Majesty’s Treasury published a long-anticipated consultation paper for the upcoming crypto regulation.6790
The latest strategy paper from the Central Bank of Nigeria marked the necessity to create a legal framework for stablecoins.5985
Thor Technologies got a lump of coal in its Christmas stocking from the SEC in the form of charges relating to the ICO for its Thor Token that failed a year later.9461