Initial coin offerings, aka “token sales,” attempt to raise funds for new cryptocurrency ventures. Last year, ICOs raised at least $3.9 billion, according to CoinSchedule, which tracks a subset of all ICOs. The Wall Street Journal reports that the SEC has issued dozens of subpoenas and requests for information to technology companies, executives and advisers involved in initial coin offerings. The SEC has begun paying much more attention to ICOs, warning investors to proceed with caution as it began cracking down on alleged ICO scams.”]
Source: https://www.cuinfosecurity.com/sec-reportedly-launches-cryptocurrency-probe-a-10690