You Need to Hear the SEC's Warning on Cryptocurrencies and ICOs

You Need to Hear the SEC's Warning on Cryptocurrencies and ICOs

2017 has been a banner year for cryptocurrencies such as bitcoin, Ethereum, Litecoin, and an assortment of others. We've also seen an explosion of initial coin offerings, or ICOs, a relatively new fundraising mechanism for start-ups. Whether you're a digital-currency investor or a finance professional, or of you've just been sitting on the sidelines wondering what cryptocurrencies are, Securities and Exchange Commission Chairman Jay Clayton, as well as several cryptocurrency experts, have some words of warning for you.

In regard to cryptocurrencies and ICOs, which we'll discuss in a bit, Clayton said in a recent public statement: "There are tales of fortunes made. ... We are hearing the familiar refrain, 'This time is different.'"

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Source: Fool.com