A discussion pertaining to the legality of ICOs is overdue. With a flood of new projects entering the markets recently, developers are seemingly printing money out of thin air in the form of cryptographic tokens on a weekly basis, which are then passed onto greedy investors seeking to find the next big crypto. With ICOs raising almost half a billion USD in the last 2 years, it is unsurprising to see the SEC taking an interest in the current ICO landscape.
A recent article posted on Medium has sought to argue that Brave’s BAT pre-sale ICO and others like it may comprise the sale of unregistered securities, and are thus illegal.
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SEC may be Looking for Ways to Regulate the Cryptocurrency ICO Market
The Cyber Security Report 