The SEC Declares War On ICOs

Summary

The SEC is now contributing “a significant portion of its resources to the ICO market.” The primary targets of opportunity will be the major Exchanges.

The ICO market is too underdeveloped to survive the resulting liquidity crisis. Many (if not most) ICO funded projects are going to zero overnight.

Investors can expect coordinated, global action against trading platforms, companies and individuals.

BRIDLE projects (Bitcoin, Ripple, Iota, Dash, Litecoin, and Ethereum) will likely NOT be targeted.

“Pride goeth before destruction, and an haughty spirit before a fall.”

– Proverbs 16:18

“We’re in line for some serious regulatory responses to all of this and that will be forthcoming after the first of the year.”

– Former SEC Chairman Harvey Pitt on ICOs, CNBC’s Fast Money (December 21st, 2017)

Back in December, I wrote an article warning readers that the vast majority of ICOs failed the Howey Test and were about to disappear along with investor’s capital, and urging them to resist chasing unproven technologies – many consisting of little more than a white paper specification – further and further out on the risk curve.

Source: SeekingAlpha 

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