Goodbye ICOs, Hello ILPs?

The gold-rush mentality currently surrounding the use of initial coin offerings (ICOs) has at times led to projects being used irresponsibly and investors suffering harm as a result. To date, no jurisdiction has provided a bespoke set of legal and technical controls to manage this risk. Instead, some have acted retrospectively by either banning ICOs or applying existing regulatory frameworks relating to other asset classes that are not necessarily compatible. To avoid an innovative and disruptive space being stifled, whilst offering protections to investors, regulators must act swiftly or risk losing opportunities to newly envisaged 'Crypto Nations'.

Blockchain technology offers a secure, transparent, immutable and globally accessible environment in which businesses can achieve unrestricted access to crowdfunding opportunities by way of the ICO. During 2017, ICOs became recognised in the world of Fintech not merely as a rival buzzword to "cryptocurrency", but as a