Wall Street regulator sets sights on digital coin offerings

Digital service: Coinbase offers services for buying, selling, sending, receiving, and storing bitcoin. — Reuters

Wall Street's main regulator said on July 25 that initial coin offerings (ICOs), a means of crowdfunding for blockchain technology companies, should be subject to the same safeguards required in traditional securities sales.

ICOs have become a bonanza for digital currency entrepreneurs, allowing them to raise millions quickly by creating and selling digital "tokens" with no regulatory oversight.