What has happened with ICOs this year?

[KYCbench]

Yes. It has been a troublesome time for the bulls and the faithful. The memory of 10-20% daily increases continuously day after day seem like a long time ago. However, what has happened to ICOs since the beginning of the year.

We have all read that over 80% of all ICOs have failed or been delayed after crowdfunding. Of course the downward turn of the market has affected the bottom line of many of these “ICO start-ups” but also government involvement has started to trickle into the industry and news about ICOs being closed down are slowly becoming more and more common.

From government regulatory bodies in America to the European Union seeking recommendations from its member states, blockchain/cryptocurrency regulation seems to be ‘around the corner’. This puts many ICOs in a tough position. Sure, there are many laws already in place dictating how crowd funding and storage of personal data must follow however until there is a clear unified approach to the blockchain/cryptocurrency ‘problem’, it is still up to the ICOs to ensure that they follow the current laws in place.

We often hear this term ‘unregulated’ however there are still certain laws that apply now that affect all industries and all sectors. The main law that needs to be followed by any company/enterprise/ ICO that processes or stores personal information of any EU citizen and that law is the GDPR.

The GDPR is especially important because when it comes to personal data this regulation applies to all EU citizens. With recent memory of facebook immorally selling users data the EU has taken a strict approach to force companies to not allow data to be used for any other purpose accept for that in which the individual has agreed to.

Read more at: https://www.kycbench.com/what-has-happened-with-icos-this-year/

KYCbench, your reliable KYC partner
www.kycbench.com
GDPR & ISO/IEC 27001:2013 compliant
Please contact KYCbench today, the most reliable ID verification processor at: [email protected]
Join our Telegram Groups:
KYCBench Announcement
KYCBench Community

[flyaccount]

Taking about ICO this year is certainly different from ICO in the previous year, which is a lot of projects that are legit and profitable. But there's no need to worry, even though the decline in confidence in ICO is decreasing because many projects are scam, you can minimize it by doing some analysis. Like seeing the activities of his team on the telegram, reading the whitepaper and seeing who the company is working with.

[cashbit]

@flyaccount, I agree with you. There are many ways to minimize losses in the ICO. I usually see with whom the ICO works together to ensure that the ICO is truly legitimate.

[88percent]

Iico's success and the enthusiasm of the participants with IO have been utilized by those who are not responsible for carrying away investor money. That's why ico's existence is a little dim now. But you can minimize ico's scam by doing research on ico.

[Alcor]

The activity of ICO is only a reflection of the general state of the cryptocurrency market, and the market is experiencing a strong and prolonged decline. Therefore, is it any wonder if the ICO is now unable to collect even the minimum amount and constantly extend the deadline for ICO. If by the end of the year the cryptocurrency starts to grow in value, then the ICO should recover.

[gerald232]

A number of negative issues hit the Iico project now, especially about fraud, as a result of decreased investor confidence in the ICO project. Plus the crypto market experienced a decline in value which also affected the ICO market now.