It basically said "we are watching this space" which will frighten anybody who knows that the SEC isn't in a hurry to investigate.
They can get you for things from years past (IIRC 10), so they don't have to rush things.
You know we're talking about the same SEC that didn't saw the real estate bubble coming in 2007/08 (size > trillions, CDOs are obviously fine) or the dotcom bubble in 2000 (size > trillions, they approved the IPOs, right)?
If so, please give me reasons (instead of opinions or references to SEC "authority") as to why the ICOs in a 175 bn market are "dangerous".
http://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?artic...
The context was unsophisticated investors were being exploited without appreciating the risks involved. They thought they were investing when they were essentially gambling and the underlying security was essentially worthless.
To give them credit people have made many times their money buying and reselling but it would be idiotic to let this madness continue.
Why? Inevitably the fools will just run out of money.
This "problem" seems to take care of itself.
