It may have taken its time to get into the gist of the crypto industry, but its all in now. The U.S Securities and Exchanges Commission has always made its presence known. It has warned severally that some cryptos qualify as securities and should abide by the relevant law. However, in recent months, it has backed its talk with actions.
For those that have fallen victim to the regulator’s bloodthirst, the consequences have been far-reaching. One of the victims was Airfox, a blockchain startup that raised $15 million in its ICO in 2017. Airfox was one of the first two victims, setting the stage for what some termed as the death of the ICO industry in the U.S.