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by kenneth 2316 days ago
These coin offerings are generally violating securities law.
1 comments
sillysaurusx 2316 days ago
Which raises the question of whether securities laws are beneficial in this regard.
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gruez 2316 days ago
The SEC has shut down/suspended numerous ICOs. That sounds like they're working to me.
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nullc 2316 days ago
It has shut down some but it mostly seems to issue nominal penalties.

For example, the EOS ICO unlawfully raised over $4 billion dollars. The SEC settled with them where they paid the SEC $24 million and the SEC agreed to take no further action.

The only lesson here is that if you're going to ignore the law and sell sketchy assets with over-hyped claims to unsophisticated investors in the US... make sure you raise enough that the cost for good attorneys few million to the SEC is just a rounding error.

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sillysaurusx 2316 days ago
Or the value is being transferred out of the US and toward other countries, because you can't even start an ICO in the US unless you have the right connections.
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