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The recent cryptocurrency phenomenon has proved controversial in many aspects, none more so than the existence of initial coin offerings (ICO). ICOs provide a way for new cryptocurrency companies to raise funds by selling their own cryptocurrency, often in exchange for more popular or established cryptocurrencies, such as Bitcoin or Ethereum. The ICO process is […]

On September 29, the Securities and Exchange Commission (SEC) initiated a civil enforcement action involving Initial Coin Offerings (ICO). In this first-of-its-kind action, the SEC alleges that Maksim Zaslavskiy and his companies, ReCoin Group Foundation and Diamond Reserve Club (DRC), fraudulently sold investors cryptocurrencies in the form of securities, which normally require registration. An ICO […]