The Isle of Man Financial Services Authority (FSA) said it is considering following the UK financial watchdog’s lead in warning that initial coin offerings (ICOs) are “very high-risk, speculative investments” that could result in investors losing all of their investment.
The UK Financial Conduct Authority (FCA) sounded the alarm over the crypto-currency funding method last week when it warned investors that ICOs are a wholly unregulated space where there are no investor protections and that come laden with the potential for fraud.
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