Are cryptocurrencies really the wild west? An intro to Initial Coin Offerings. William Li writes for The Law Society

January 25, 2018

With more than US $3 billion being raised by way of Initial Coin Offering (ICO) in 2017 and the price of Bitcoin breaking through the US $19,000 mark (and dramatically falling again), interest in ICOs and cryptocurrencies is at an all-time high. Many commentators have noted that both the problem and appeal of ICOs is that they are not regulated by the Financial Conduct Authority (FCA). But is this really the case?

What is an ICO?

An Initial Coin Offering (ICO) is a type of crowdfunding which is facilitated through the use of distributed ledger technology. Whilst distributed ledger technology is more commonly referred to as “blockchain”, it is more accurate to say that blockchain is only one type of distributed ledger technology. 

Technically any company can launch an ICO, although the majority of ICOs have been by companies who specialise in distributed ledger technology-based products or services.

Read the full article by William Li here.

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