Initial Coin Offerings May Face A Global Crackdown
Paul Anderson and Harriet RogersNovember 21, 2017, 11:43 AM EST
Law360, New York (November 21, 2017, 11:43 AM EST) -- Hailed as "revolutionary," endorsed by celebrities and having raised over $2 billion of external funding to date, initial coin offerings (ICOs) have exploded into the spotlight. But following an outright ban in China and mobilization from a number of top financial regulators elsewhere, are we on the verge of a global regulatory crackdown?
What Are ICOs?
An ICO occurs when a start-up offers units of a new cryptocurrency known as "tokens" to investors in exchange for well-established cryptocurrencies (e.g. Ether or Bitcoin) which are then used to...