A Broad Regulatory Push To Rein In Burgeoning ICO Market
By Christopher Conniff, Michael McGovern, Helen Gugel and Jessica Soricelli (March 6, 2018, 12:26 PM EST) -- On March 1, 2018, Overstock.com disclosed that its ongoing $250 million initial coin offering has been under investigation by the U.S. Securities and Exchange Commission since February.[1] The investigation appears to be part of a widespread probe pursuant to which "scores" of companies and advisers in the ICO industry have reportedly received subpoenas and requests seeking information from numerous SEC regional offices relating to the structure and marketing of the offerings.[2] This initiative suggests the onset of a broad regulatory push to rein in the burgeoning ICO market after a series of "warning shots" in the form of enforcement actions and public statements, and it underscores the SEC's continued commitment to vigorous oversight in the virtual currency space.[3]...
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