Initial Coin Offerings (ICOs) have recently received a lot of attention due to the ban imposed by Chinese regulators. China is not the only country that is concerned about ICOs. On 12th September, the UK’s Financial Conduct Authority (FCA) issued a warning to consumers about the risks of ICOs. Regulators from the USA, Canada, Japan, Hong Kong and Singapore have also alerted “investors” about the risks associated with ICOs, albeit not implementing bans. In this article, we discuss the questions regulators need to consider in regulating ICOs. We begin by describing what an ICO is.
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