It appears that regulators are looking into ICOs, the Initial Coin Offerings by which many projects are raising financing at the moment. Regulators are rightly concerned with people losing money in speculative projects that fail to deliver or worse yet in outright scams. As regulators think about how to approach this area it will be important to keep a few things in mind: 1. Coins are sui generis. Coins are not equity, although they share some aspects of equity. Coins are not a pre-purchase, ...
