Initial Coin Offerings are one of those disruptive technologies filed under crazy enough to work. And how — entrepreneurs launch new cryptocurrencies and sell them for existing cryptocurrencies (like bitcoin) to buyers betting the new currency will appreciate.
Does this sound like a safe space for scam artists? Regulators seem to think so, and they are increasingly scrutinizing ICOs. “Technology is moving, and the law needs to as well,” said Mitzi Chang (pictured), corporate attorney at Goodwin Proctor LLP.
Goodwin Proctor works with startups — the main purveyors of ICOs — to ensure lawful transactions. Cryptocurrency’s anonymity is surely not lost on those who would cheat the system. “They’re anonymous wallets that you’re sending cryptocurrency to and from; you don’t know who these people are,” Chang said told John Furrier (@furrier), host of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during an interview at theCUBE’s Palo Alto…