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Shady ICO Issuers Are Taking 'Bags of Cash' To Border, US Says (bloomberg.com)
A top financial regulator gave a strong warning this week that U.S. scrutiny of initial coin offerings is just getting started. From a report: Securities and Exchange Commission Chairman Jay Clayton, speaking at a conference in New York, said companies raising money through digital-token sales shouldn't have any illusions that the government will treat them differently than firms participating in traditional stock offerings. He added that the market deserves close attention because the SEC has already seen examples of fraudsters fleeing the country after persuading U.S. investors to back their ICOs. "I am not going to change the way we approach the offering and trading of securities as a result of the fact that you put it in the form of a token," Clayton said at the Sandler O'Neill Global Exchange and Brokerage Conference. "I'm protecting the integrity of the market. The behavior we see in this is pretty bad. We've got guys with bags of cash headed to the border. That's not our securities market."
There's a guy in my office whose name is Bill, but he goes by Fun Size. Anyway, Fun Size says a lot of stuff about block chain and ICOs and I usually agree with him. The other day he was telling me that block chains are better than the round ones because he doesn't believe in cutting corners.