--- title: Reads on ICOs from around the web description: Resources around the web on initial coin offerings image: https://blog.factright.com/hubfs/BitCoin.jpeg --- behance bloglovin dribbble email facebook flickr github gplus instagram linkedin medium periscope phone pinterest rss snapchat stumbleupon tumblr twitter vimeo xing youtube - [Facebook](https://www.facebook.com/FactRightLLC/) - [Twitter](https://twitter.com/factright) - [Linkedin](http://www.linkedin.com/company/395017?trk=tyah) - [Phone](tel:866-357-7779) [Report Center Login >](http://www.factrightreports.com/Account/Login) - [Home](http://www.factright.com/) - [ABOUT US](http://www.factright.com/team/) - Financial Advisory Firms - [FR Risk Management](http://www.factright.com/fr-risk-management/) - [Report Center](https://www.factright.com/resources/report-center/) - [Product Coverage](https://www.factright.com/resources/list-of-coverage/) - Product Sponsors - [Due Diligence Reporting](http://www.factright.com/due-diligence-reporting/) - [Preparing for FactRight Diligence](https://www.factright.com/preparing-for-factright-diligence/) - [Resources](https://www.factright.com/resources/) - [Report Center](https://www.factright.com/resources/report-center/) - [FactRight Webinars](https://www.factright.com/resources/webinars/) - [FAQs](https://www.factright.com/resources/faqs/) - [Events](https://www.factright.com/events/) - [Weekly Updates](https://www.factright.com/weekly-updates/) - [FactRight Blog](https://blog.factright.com/) - [Contact](http://www.factright.com/contact/) # Reads on ICOs from around the web October 17, 2017 by [Brandon Raatikka](https://blog.factright.com/author/brandon-raatikka) Initial coin offerings (ICOs) are being heralded as Crowdfunding 2.0, but that could be understating the case. So far in 2017, [200 issuances have raised approximately $3 billion](https://www.bloomberg.com/news/articles/2017-10-16/initial-coin-offerings-rake-in-another-billion-in-under-2-months), which dwarfs the amount raised under all Titles of the Jobs Act (including the technically-minted crowdfunding under Title III) since that landmark legislation went into effect. It’s no surprise, then, that widespread lack of ICO compliance with securities laws [is on the SEC’s radar](https://www.crowdfundinsider.com/2017/07/119889-secs-division-corporate-finance-enforcement-issue-joint-statement-ico-report/). Per a recent joint statement by the SEC Division of Corporate Finance and Enforcement: *Sponsors involved in an exchange of something of value for an interest in a digital or other novel form for storing value should carefully consider whether they are creating an investment arrangement that constitutes a security.* Don’t be surprised if the answer is almost always “of course it does,” and in any event, expect the SEC and state securities regulators to assert its authority over much ICO activity. As the market intensifies even in the wake of this impending scrutiny, my inbox and LinkedIn feed have been filling up with updates and eblasted articles on ICOs. Here are some of the more worthwhile resources I’ve come across in the last week: Scott Andersen, an attorney with significant securities regulatory and prosecutorial experience, [predicts a flood of SEC enforcement actions against coin issuers](http://www.banklesstimes.com/2017/10/14/icos-and-a-soon-arriving-flood-of-sec-enforcement-investigations/). He highlights three main regulatory grounds the SEC will rely on to protect investors. In particular, unregistered broker dealer involvement in these offerings will be a focus.  In [Cryptocurrencies: There’s Nothing New Under the Sun](https://crowdfundattny.com/2017/10/13/cryptocurrencies-theres-nothing-new-under-the-sun/), Securities attorney Mark Roderick reminds us that ICOs can involve fundamentally different things, and delineates the three kinds of digital coins or tokens: - *Tokens like Bitcoin that are intended to function as currencies* - *Tokens that represent economic interests in businesses, g., securities* - *Tokens that give the holder some kind of contract right in the business conducted by the issuer, g., a distributed storage network* He spends most of the post discussing the third kind of token, those that give some kind of contract right, which interestingly may or may not be securities. For those looking for book-length resources, JP Parker posts [his reading list](https://www.linkedin.com/pulse/blockchain-cryptocurrency-bitcoin-books-jp-parker-mba/?trackingId=3QoDZRxksOrHXGbJMiOr3A%3D%3D) on blockchain technology and cryptocurrencies in particular.  [![Register for our next Webinar: "An Update on AR Global"](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/2777169/a5a8e758-8546-4533-aae2-67cc2f1ba920.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/2777169/a5a8e758-8546-4533-aae2-67cc2f1ba920) [Why Force Majeure is Impacting Alternative Investments to Industry Events](https://blog.factright.com/force-majeure-clauses) [SEC Official Opines on Whether Digital Tokens are Always Securities](https://blog.factright.com/sec-official-opines-on-whether-digital-tokens-are-always-securities) [FINRA Explains Proposed Outside Business Activities Rule In One Graphic](https://blog.factright.com/finragraphic) [What Does BDC Modernization Mean for Investors?](https://blog.factright.com/what-does-bdc-modernization-mean-for-investors) Filed Under: [Legal and Regulatory](https://blog.factright.com/topic/legal-and-regulatory), [Initial Coin Offerings](https://blog.factright.com/topic/initial-coin-offerings) ### Get Blog Notifications ### categories - [Due Diligence (85)](https://blog.factright.com/topic/due-diligence) - [Best Business Practices (39)](https://blog.factright.com/topic/best-business-practices) - [Alternative Investments (32)](https://blog.factright.com/topic/alternative-investments) - [Real Estate (29)](https://blog.factright.com/topic/real-estate) - [About FactRight (27)](https://blog.factright.com/topic/about-factright) - [REITs (27)](https://blog.factright.com/topic/reits) - [Best Practices (24)](https://blog.factright.com/topic/best-practices) ### Archives - [April 2026 (1)](https://blog.factright.com/archive/2026/04) - [March 2026 (1)](https://blog.factright.com/archive/2026/03) - [January 2026 (1)](https://blog.factright.com/archive/2026/01) - [September 2025 (1)](https://blog.factright.com/archive/2025/09) - [March 2025 (1)](https://blog.factright.com/archive/2025/03) - [October 2024 (1)](https://blog.factright.com/archive/2024/10) - [May 2024 (1)](https://blog.factright.com/archive/2024/05) - [March 2024 (1)](https://blog.factright.com/archive/2024/03) - [November 2023 (1)](https://blog.factright.com/archive/2023/11) - [September 2023 (1)](https://blog.factright.com/archive/2023/09) - [August 2023 (1)](https://blog.factright.com/archive/2023/08) - [June 2023 (2)](https://blog.factright.com/archive/2023/06) - [March 2023 (1)](https://blog.factright.com/archive/2023/03) - [February 2023 (1)](https://blog.factright.com/archive/2023/02) - [January 2023 (1)](https://blog.factright.com/archive/2023/01) - [December 2022 (1)](https://blog.factright.com/archive/2022/12) - [November 2022 (1)](https://blog.factright.com/archive/2022/11) - [October 2022 (1)](https://blog.factright.com/archive/2022/10) - [September 2022 (1)](https://blog.factright.com/archive/2022/09) - [August 2022 (1)](https://blog.factright.com/archive/2022/08) - [July 2022 (2)](https://blog.factright.com/archive/2022/07) - [June 2022 (1)](https://blog.factright.com/archive/2022/06) - [May 2022 (1)](https://blog.factright.com/archive/2022/05) - [April 2022 (2)](https://blog.factright.com/archive/2022/04) - [March 2022 (2)](https://blog.factright.com/archive/2022/03) - [February 2022 (2)](https://blog.factright.com/archive/2022/02) - [December 2021 (2)](https://blog.factright.com/archive/2021/12) - [November 2021 (1)](https://blog.factright.com/archive/2021/11) - [October 2021 (1)](https://blog.factright.com/archive/2021/10) - [September 2021 (1)](https://blog.factright.com/archive/2021/09) #### Contact FactRight, LLC 7500 Flying Cloud Drive, Suite 755 Eden Prairie, MN 55344 Call Today: (612) 284-6150 [http://www.factright.com/](http://www.factright.com/)[info@factright.com](mailto:info@factright.com%20target=)   #### FactRight Report Center Independent risk assessment and third party due diligence reports. **[Log In >](http://www.factrightreports.com/Account/Login)** #### Looking for Something? - [Facebook](https://www.facebook.com/FactRightLLC/) - [Twitter](https://twitter.com/factright) - [Linkedin](http://www.linkedin.com/company/395017?trk=tyah) - [Phone](tel:866-357-7779) Copyright © 2019 · [FactRight, LLC](http://factright.suiportal.com/) · [DISCLAIMER](http://www.factright.com/disclaimer/)