On Wednesday, the U.S. Securities Exchange Commission (SEC) announced it would regulate initial coin offerings (ICOs) and will consider them securities in the future.
The news suggests that the government agency views cryptocurrencies as a threat to, or part of, the future of the global financial system. While regulatory oversight may reduce the pace of ICOs and money pouring into new iterations, it could also offer a benefit to the existing pipeline of cryptocurrencies and a market worth roughly $84.5 billion.
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