This month, Fundraising of Initial Coin Offering (ICO) traversed a significant milestone, despite increase attention from regulatory agencies globally, racing past the $3 million mark.
ICO Fundraising Tops $3 Billion
Since 2013, ICOs have come along when J.R. Willett profound $500,000 to develop Omni (Mastercoin). According to the given source, presently, there are more than 200 ICOs held during 2017. Frequently, ICOs have raised $3 billion with more than $800 million of that coming from ICOs.
Moreover, from top 10 years till date ICOs have raised a combined $1.2 billion. Therefore, these impressive fundraising numbers may soon be eclipse by the tZERO initial coin offering.
Also Read: Regulatory authority of Abu Dhabi provides ICOs for crypto funding
ICOs Gallop Ahead Despite Regulatory Attention
There are ICO contributions throughout the year, globally regulators have begin to observe this nascent fundraising model with increasing scrutiny. However, China triggered a market crash after regulators ruled that ICOs were illegal. Later on, South Korea banned domestic startups from engaging in this fundraising model.
In the U.S both the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). It has taken steps to increase their oversight of the ICO markets. Therefore, ICO tokens are subject to federal securities laws, the SEC has made ICO oversight one of its top priorities. The scrutinize startups that attempt to float securities laws by describing their tokens as “utility coins” are bear the properties of a security.
At the conclusion, it would not be wondering to see ICO contributions pierce the $4 billion barriers before the end of 2017.