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Regulating ICOs and Empowering Blockchain - 2018/06/08
Manage episode 311404455 series 3118763
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David and Ladhan will dive into various case studies and discussed good and bad ICOs. Ladhan Rahmati, an associate attorney at Bevilacqua PLLC and an active blogger of ICOs, emphasizing that she is not representing the opinions of her firm in this show, she noted that the ICO model has been used by many corporations to raise more than 12 billion dollars. Cryptocurrencies have many qualities such that the SEC can view it as a security, the IRS can use it has property, and etc.
However, some ICO companies are running into legal problems, and SEC created a cyber unit to keep the public safe from various aspects of the rapidly expanding cryptocurrency market. Ladhan introduces PlexCoin as an example of of a ‘bad ICO.’ In December 2017, PlexCoin was shut down by the SEC after legal trouble involving 15 million dollars raised through illegal fundraising.
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