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Don’t be fooled, the authorities are coming after ICOs

Summary:
If you’ve been watching the excellent three-part Netflix series ‘Narcos’ on Colombian drug lords in the 80s and 90s, you’ll have learnt by now that when faced with cross-border criminal enterprises of state-undermining proportions, authorities — especially American authorities — have a habit of waiting, watching, collecting evidence and then setting major precedents (usually with the help of ingeniously constructed honey pots).We suspect the free-for-all in ICO issuance will be dealt with no differently, at least by jurisdictions that are serious about enforcing securities laws properly, as opposed to those (we shan’t mention any specific names) who see this as a novel opportunity to reassert their dominance and comparative advantage in the bearer asset, banking secrecy and offshore

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Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

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