The emergence of bitcoin in 2009 as the first decentralised digital currency using cryptography as a security feature has spawned more than 1,200 new digital crypto-currencies, with coins, or tokens, sold by crypto-currency firms to fund their projects one of the fastest growing applications.
With more than US$3bil (RM12.3bil) raised in "initial coin offerings" (ICOs) this year so far, dozens of regulators around the world have responded with some form of regulations or guidelines. Here are some responses:
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