ICOs in 2018: Increased Regulatory Scrutiny, And Alternatives to Traditional “Utility” Token ICOs ByGrant FondoPRO INVESTOR Updated: 29 August 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. As we transition from 2017 into 2018, there has been an increase in SEC and state regulator activity in the area of Initial Coin Offerings (“ICOs”), as the agencies seek to determine (i) whether certain ICOs constitute a sale of unregistered securities; and (ii) whether public statements made in connection with ICOs are fraudulent or materially misleading.