The recent ICO boom that was seen in almost every corner of the world, has had the other shoe drop. Now many of those ICOs are facing cease and desist orders from the various states they were conceived in. The latest four were a product of Colorado’s security regulator clamp down on fraudulent ICOs.
The fraud claim, is based on false information listed on the ICOs websites, about false promises, profits that could be made and other bogus information in order to entice users to pay into the scam offering. With this recent 4, that makes Colorado’s total of ICO cease and desist orders to 18.
Not All ICOs Are Created Equal
With all the negative press about ICOs, it’s no wonder many are angry about them if brought up in a conversation, but remember, ICOs have a real use case in our world, they are the equivalent of angel investors and startup backers, without such operating in the legit sphere, we would miss out of many chances to innovate upon the progress that has already been made.
It’s a great time to be interested in cryptocurrency, especially since now we are having more self regulating and self correcting aspects of the technology start to push to the forefront.
Do your research, understand what an ICO is about before making a judgement, the next ICO you look at, could be one that changes cryptocurrency for the better!