web3/concepts/ico.md

Initial Coin Offerings

Initial coin offerings are proxy equity fundraising structure that allows entrepeneurs to raise crypto assets in a common enterprise outside of existing securities regulation. Initial coin offerings are an exammple of regulatory-arbitrage of security regulation.

Initial coin offerings are illegal in the United States.

Citations

• [@kharif_half_2018]
• [@zetzsche_ico_2017]
• [@kelly_ico_2019]
• *[@debler_foreign_2018]
• [@cincinnati_ponzico_2017]
• [@howell_initial_2018]
• [@boreiko_serial_2020]
• [@benedetti_digital_2018]
• [@momtaz_entrepreneurial_2020]