kaal:claim:3067615-018

The 2012 to 2017 ICO model allowed cryptocurrencies to be raised through a token sale without any conditions, landmark requirements, or security measures to protect investors, so that in essence promoters could use ICO proceeds as they pleased.

Source quote, verbatim

First and foremost, the 2012-2017 ICO models allowed cryptocurrencies to be raised via a token sale without any conditions, landmark requirements, or security measures to protect investors.

From

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017), IV. Risk Factors, p. 15
https://ssrn.com/abstract=3067615 · source PDF

Cite as

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

Holds when

ICO models prevailing between 2012 and 2017

Classification

failuresupport: arguedfailure: Unconstrained use of ICO proceedsfamily: investor-protection-gapsecurities-law

Verify

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