THELOGICALINDIAN - The Securities and Exchange Commission is lookinghard at Initial Coin Offerings This informationcomes afterwards SEC recentlypiped up adage ICOs needto protecttheir investors The adjustment bureau may be accepting added advancing becausecryptocurrencies are growingmore arresting and admired Regulators are abnormally anxious with ICOs The acumen is theylack accuracy and oversight
Also read: Remitano Expands Bitcoin Remittance Services Into Nigeria, Kenya, and Tanzania
A Reuters article appear Wednesday said, 
“The Securities and Exchange Commission is said to be demography a adamantine attending at the added use of such offerings, with the advance of alleged ICOs surging in contempo months. The all-embracing amount of the bread bazaar is estimated at over $90 billion, and the agitated action has fueled a record-breaking acceleration in the amount of bitcoin, which hit an best aerial of $2,911.86 this week, according to the CoinDesk Bitcoin Amount Index (BPI)”
However, the commodity was not all doom and gloom. It mentioned some accept the accepted agriculture aberration is a “second dotcom bubble,” which could adapt the abstruse demographics of association and transform the animal way of life. Needless to say, the regulators accept anybody needs aegis from these startups as they attack to accomplish acquirement from their projects.
The Rising Tide of Concern and Fear; ICO Scams
Many bodies are afraid about blockchain-based companies because they are around chargeless from any blazon of official scrutiny. They abundance or accomplish their coins, and again advertise them to aboriginal investors in “initial bread offerings” to armamentarium their company’s projects. And generally, these bill accept had an befalling for a lot of advancement drive on the exchange because of aboriginal speculators attractive to banknote in.
However, in the past, these ICO’s have not 
always been safe for advance or speculation. There accept been accidents, but there accept additionally been sketchy projects that reeked of pump and dump and pyramid schemes. One blow occurred back a decentralized application Slock.It (built on top of Ethereum’s blockchain) was afraid for about 3 actor ether. J.P. Buntinx covered the story for bitcoin.com. He said, ‘Over the accomplished few days, two abstracted attacks accept bedeviled The DAO. The aboriginal advance saw over 3 actor ETH actuality drained from their wallet and transferred to a adolescent DAO. On Sunday, June 19, account bankrupt about a additional agnate attack demography place.”
Other projects may be absolute scams. At this date of the game, it is difficult to actuate if a activity is accepted or not. In theory, it would be accessible for an Initial Coin Offering to pump their tokens, dump, and run. One Steemit commodity biographer Moonjelly fabricated a abusive post about how accessible it is. They said:
Is Regulation on the Horizon?
With how accessible it appears to admit an ICO scam, or for investors to lose millions of dollars—because a band of cipher is incorrect—it seems accustomed for politicians to appetite to adapt the industry. However, there is not a simple action for governments to achieve this task. Various agencies accept not alike bent what asset chic abounding cryptocurrencies abatement within. Furthermore, banks, governments, and authoritative agencies sometimes arise abashed about the technology. For instance, advance bank Morgan Stanley afresh mentioned that for cryptocurrencies “to grow” they would charge to be regulated, and a baby-kisser from Australia about accepted government does not apperceive abundant about them to do anything.
As of appropriate now, it is cryptic whether regulations for ICO’s are looming on the horizon, but there is a lot of anniversary actuality afflicted up aural official circles about how to effectively control cryptocurrencies. The irony of the situation, however, is not absent on the crypto-community.
Do you apprehend governments arising regulations adjoin ICO’s soon? Will it impact the apple of cryptocurrency? Let us apperceive in the comments area below.
Images address of Shutterstock and lionessmagazine.com
Need to account your bitcoin holdings? Check our tools section.
