News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Fintech

Blockchain CEOs urge policing of ‘Wild West’ fundraising

Established blockchain firms are worried initial coin offerings will tarnish the industry's reputation and draw fire from regulators and investors

Blockchain CEOs urge policing of ‘Wild West’ fundraising
Photo: United Archives/IFTN Cinema Collection/Alamy

The chief executives of some of the largest blockchain groups have urged regulators to restrict capital raising through the use of initial coin offerings, amid fears that such offerings could damage the reputation of the blockchain industry.

Insiders are particularly worried about the rise of initial coin offerings that claim to be regulatory compliant — despite the fact that UK financial watchdog does not regulate the practice and has not given guidance on whether it intends to do so in future.

WSJ Logo