The question is simple, ICOs are touted as Utility tokens and thus evading the scrutiny a proper IPO goes through! and that is what SEC is trying to crack down on! what is wrong with that?
1:49 Technology incredible promise
2:41: "I give you my money and you make a venture of it " that is a security NO escaping
-I thought it had some relevance any way lets agree to disagree
- No I am not in compliance but I have been on a creditor's committee when a white label of a major European OTC FX broker went belly up and swindled people of 47 M, finally after 2 years we managed to get 62 cents out of a dollar back, ( Being OTC and not equity broker there was no consumer protection in the country a AAA rated OECD country that too! so we went after the White label master and their accountants who were supposed to keep it straight )
so my antennas are up just as a common consumer.
Market risk is Market risk I get it . but the extra potential for skulduggery in thinly regulated financial products / markets should be exposed and prevented IMO.
- Retail FX
- Binary Options
- ICOs
- Robo advisers ( oh ya an app will show you how to make millions etc)
I am not against technology but people throw caution to the wind when words like Fintech/ millennial/ new tech etc are dangled in front of them!
