# kaal:claim:3117224-018

**Claim.** Few governments have prohibited financial investors from investing in ICOs, a greater number have suggested not taking part, and many have issued warnings without any recommendation to citizens either way.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- top 25 ICO countries

**Source quote.**

> Finally, few governments have prohibited financial investors from investing, but a greater number of governments have suggested not to take part. Many countries have issued warnings, but have not made a suggestion to its citizens as to whether to take part or not.

**From.** Wulf A. Kaal, *Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses* (2018), IV. Regulatory Responses, page 10

**Cite as.** Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224

**Verify.** sha256 of source PDF `83e9ccb9219a217d9fcfc5c098b897229ee7cf85623bee3ae22d2e986548466b` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202018%20-%20Initial%20Coin%20Offerings%20The%20Top%2025%20Jurisdictions%20and%20Their%20Comparative%20Regulatory%20Responses.pdf

**Topics.** institutional-design

**Keywords.** warnings, comparative-regulation, investor-guidance, prohibitions

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