The US Securities and Exchange Commission is intensifying its investigations of startups that used the ICO fundraising model, widening the issuing of subpoenas, sources close to the investigation noted. The most contentious point is still the selling of tokens, which may be seen as unregistered securities, pointed out Decryptmedia in its investigation.

Since the US was the most active market for ICOs, no one is certain how many startups used the model. However, all tokens created and distributed exist on Etherscan in perpetuity and are available for public scrutiny. The US SEC is, therefore, able to go after any and all ICO projects to investigate for the sale of unregistered securities.

The pressure from the financial regulator comes at a bad time for ICO proj…

This article appeared first on Cryptovest

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