The US Securities and Exchange Commission took a fairly harsh view on ICOs, judging almost all to be undeclared securities. But isn’t that response just reactionary, over-broad and perhaps even a little bit lazy? Canadian messaging company, Kik, are fighting back, and the industry as a whole should be glad that they are.
Initial Coin Offerings (or token sales) appeared on the cryptocurrency scene in 2013, with notable offerings from Ethereum (raising $16m) and Stellar ($39m) the following year. They became the darlings of the industry by 2017, allowing unbridled raising of start-up capital, and generally impressive returns for investors.