AUSTRALIAN REGULATORS HAVE FINALLY MADE A MOVE ON INITIAL COIN OFFERING

The Australian Securities and Investment Commission (ASIC) has finally issued guidance  to explain how “initial coin offerings” (ICOs) will be regulated.
ICOs are a form of crowdfunding, with companies raising funds by selling tokens or cryptocurrencies to investors with promises of a social good or financial benefit. ICOs have exploded this year, with one estimate that more than US$2.2 billion has been raised so far.
But ICOs are also risky. They are mostly created by anonymous entities, are currently unregulated, and may not always refund money upon request or allow the resale of tokens. Investors are often left in the dark with respect to their entitlements, rights, and benefits. ICOs typically confer no ownership rights in the company and, unlike bonds, investors in ICOs do not receive interest payments. (Source: The Conversation – Academic)
MORE:http://theconversation.com/australian-regulators-have-finally-made-a-move-on-initial-coin-offerings-84840