Germany’s primary financial and securities regulator has joined a growing list of global counterparts in warning investors of initial coin offering (ICO) risks. The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), German for the Federal Financial Supervisory Authority has warned investors of “substantial risks” in “highly speculative” ICO investments.
ICO funding, a radical new form of fundraising where startups and companies raise capital in cryptocurrencies in exchange for blockchain-based tokens, cannot be compared to the issuance of shares from ‘either a technical or legal standpoint’, the regulator added.
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