The tokens are promoted as future functional units of currency if or when the ICO's funding goal is met and the project successfully launches. Along with https://allcoinss.com increased attention came increased scrutiny, and concerns about the legality of token sales. Securities and Exchange Commission put out a statement in 2017 warning that if a digital asset sold to U.S. investors had the characteristics of a security , it had to abide by U.S. securities laws or face punitive action. More recently, Gary Gensler, the latest Chairman of the SEC, says he believes all ICOs are securities, and are therefore in breach of United States securities laws – hinting more class actions could be on the horizon.
The first phase of this ICO ended in October 2015, and the second continued until September 2016. This type of wallet requires multiple access keys, which provides useful protection against scams. Make sure that project developers can clearly define what their goals are. Successful ICOs typically have straightforward, understandable white papers with clear, concise goals.