Coordinated Action against Bad ICO Players Underway
Federal U.S agencies are conducting the operation with the help of States also, to stem the tide of rampant scams in the industry. Officials have pointed out, not all ICO’s are fraudulent, but they have emphasized investors should be extremely cautious before venturing forth.
There are said to be over 70 inquiries and investigations currently taking place against different entities, and that 35 decisions are pending or nearing enforcement rulings. The agencies have stated they want to rid the cryptocurrency ecosystem of activity which is saturated with fraud. And one of the reasons officials say for the massive coordinated effort from the different agencies is because if they were to act alone – limited resources would make a full investigation difficult, the collaboration among agencies will likely create better results.
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Overall, these steps against ICO scams and the uncertainty of the industry will make investors and the ICO business a safer and legitimate fundraising platform.
Yaron Mazor is a senior analyst at SuperTraderTV.
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