France Accounts for Minor Part of Global ICO Market, While US Leads the Industry

The Initial Coin Offering (ICOs) industry in France represents a minor part of the global ICO market, according to a report on ICOs released by French financial markets regulator AMF (l’Autorité des marchés financiers) today, Nov. 14. According to the recent study, the global ICO market has accounted for 19.4 billion euros ($21.8 billion) since 2014. Having experienced rapid growth since 2016, most of the market share has mainly been concentrated in 2017 and during the first three quarters of 2018, with 13.4 billion euros ($15 billion) raised within this…

ICO Exit Scam? 13,000 Ethereum (ETH), Crypto Startup Disappear Overnight

South Korean ICO Steals $2.7 Million In Ethereum (ETH) Although the fear of scams in the nascent crypto industry is often well overblown, on Friday, reports arose that an apparently South Korea-based crypto-centric startup pulled a devastating exit scam on its private sale investors, stealing thousands of Ethereum (ETH) in the process. Korean Cryptocurrency & Blockchain News (BlockchainROK), a well-respected source inside and outside of the nation’s local crypto ecosystem, took to Twitter to convey the news to their followers, issuing a message on the subject matter. 🇰🇷 – New…

Fraudulent South Korean Exchange Pure Bit Nabs $2.8M in ICO Exit Scam

A South Korean ICO has defrauded its private sale investors out of roughly 13,500 ETH ($2.8 million) before disappearing from the internet entirely. Pure Bit, which has already pulled the plug on its website, has apparently conducted a fairly routine exit scam for its Pure Coin token sale. The cryptocurrency was pitched as an exchange token for Pure Bit, an exchange that was supposed to launch by the end of the month. The Coin  promised to give investors shares of the exchange’s trading revenue as well as discounted fees for trading,…

Thailand to Legitimize First ICO ‘Portal’ via New Regulation, Says SEC Head

Thailand’s securities regulator will clear “at least one” Initial Coin Offering (ICO) “portal” to operate legally in November, local daily news outlet Bangkok Post reported Nov. 8. Speaking to the publication, Rapee Sucharitakul, secretary general of the Thai Securities and Exchange Commission (SEC) said that ICOs themselves could also start seeing official approval to serve Thai markets as soon as December. “At least one ICO portal will be certified in November, then we can approve each ICO offering, which might start in December,” he said. The confirmation marks the closing…

The Incoming Wave of ICO Regulation (Yes, It’s Coming)

Alex Sunnarborg is a Founder of Tetras Capital. Previously, he was a research analyst at CoinDesk and a founder of the crypto investing app Lawnmower. As you may know, securities classification analysis in the U.S. today primarily revolves around the Securities Act of 1933 and the SEC v. W.J. Howey Co. Supreme Court case of 1946. The Securities Act of 1933 was established to require issuers to disclose certain pieces of information to potential investors prior to any public securities offering. This law was enacted to reduce misrepresentation by issuers and to help…

ERC-20 Co-Author Proposes New ICO Model to Protect Investors from Fraudulent Token Sales

The Ethereum (ETH) developer that co-authored the ERC-20 token standard has introduced a new model for Initial Coin Offerings (ICO), Czech business news outlet Kurzy reports Oct. 31. Speaking at Ethereum’s annual Devcon conference in Prague Oct. 30, Fabian Vogelsteller, also the main developer of decentralized application (DApp) browser Mist, proposed a new approach for running ICOs that he claims will better protect investors. Vogelsteller described the concept, dubbed a “reversible ICO” (RICO), as a fundraising model that allows investors to return their tokens – and be reimbursed – at…

How One Project is Fighting Fake ICO Reviews Using AI and Blockchain

On October 24, Revain, a service for collecting customer reviews, released a full-scale working 1.0 version of its Ethereum-based platform. As the project team reported to Cointelegraph, the 1.0 version is completely blockchain-based, containing a verification system and artificial intelligence (AI), among many of its other new features. “Users can see all of the reviews written in the blockchain on a special page,” reads the official press release. The Revain platform was launched in order to change the process of collecting reviews from customers, by means of blockchain technology. The…

Taiwan Will Issue Draft ICO Rules By June 2019, Regulator Says

Taiwan plans to release draft Initial Coin Offering (ICO) regulation by June 2019, local English-language daily news outlet Taipei Times reported Tuesday, Oct. 23. The publication quoted plans from Wellington Koo, chairman of Taiwanese finance regulator — the Financial Supervisory Commission (FSC) — who was speaking at a meeting of the Legislative Yuan Finance Committee. “The more we regulate, the more this new economic behavior wanes,” he told members of the meeting on Oct. 22. ICOs have created tension throughout international jurisdictions keen on avoiding consumer exposure to fraud. Locally,…

$50 Million ICO Shuts Down ‘in Accordance with’ Regulatory Requirements

An Initial coin Offering (ICO) conducted by an Australian crypto startup Global Tech Exchange (GTE) has ceased operations, citing the Australian Securities and Investments Commission (ASIC) requirements, the company’s website reveals Monday, Oct. 22. According to Business Insider Australia, the ICO was launched summer 2018 by GTE to create an an education-based trading and exchange platform and had a fundraising goal of $50 million. The firm quickly gained popularity after being endorsed by Michael Clarke – a former Australian cricket captain and national celebrity. As of August, GTE cited him…

Online Bank Swissquote Enters ICO Market With Purchase and Custody Option for Clients

Swiss online financial services provider Swissquote announced it had become “the first bank worldwide” to offer purchase and custodial services of (Initial Coin Offering) ICO tokens for clients in a press release Monday, Oct. 22. Swissquote, which has offered various cryptocurrency-related services to account holders since 2016, began its latest service by allowing them to purchase ICO tokens from industrial diamond manufacturer LakeDiamond. Explaining the move, the bank said it was now no longer necessary for ICO consumers to “understand blockchain.” “Combining crowdfunding with the blockchain creates a new form…