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The End of the ICO Wild West? Blockchain Advocates Weigh In On SEC Report

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This week’s the U.S. regulatory agency, the Securities and Exchange Commission (SEC), announced in a report the organization conducted research on the current state of Initial Coin Offerings (ICO) and last year’s DAO debacle. From the letters perspective, the days of all these token sales and the “Wild West” ICO period is likely coming to an end.

Also read: ICO Hype Attracts Investors but Also Skeptics and Regulators Worldwide

‘The Market Anticipated This Announcement’

Bitcoin.com recently reported on the SEC announcement on July 25 detailing the agency’s opinions concerning last year’s Ethereum-based DAO crowdfund and the current ICO hype happening right now. The report conveyed a few key statements that established that U.S. federal securities laws would apply to ICOs and digital token sales. Due to the past six months of ICO excitement, raising millions of dollars in crowdsales based off of the Ethereum protocol, some within the cryptocurrency community seemed to welcome the SEC’s news. Many cryptocurrency and blockchain proponents believe the ICO market was getting out of hand, while others believe regulators need to step aside. 

This week a few members of the bitcoin and blockchain community reached out to Bitcoin.com to make a statement about the SEC’s recent announcement. Ari Meilich, Project Lead at Decentraland, a blockchain-based virtual world, said the market was expecting the SEC’s statements.  

“The SEC weighing in represents public acceptance ...

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