Initial exchange offering (IEO)
Major non-U.S. domiciled exchanges like OKCoin, KuCoin and Binance offer to host IEOs. U.S. exchange Bittrex hosted two IEOs in April and May 2019 for Ocean Protocol and VeriBlock respectively, both of which had lost more than 75% of their offering price within months of issuance.
On May 13, 2019, Valerie Szczepanik, the SEC’s senior advisor for digital assets and innovation, told a panel audience at CoinDesk's Consensus conference that issuers and exchanges which conduct IEO's may be subject to U.S. regulation if any of the buyers are U.S. residents.
In October 2019, an article in CoinTelegraph said that 65 IEOs had been launched in the previous six months, including 13 in the United States.
@JohnLothian Twitter Feed
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.