Initial coin offerings (ICOs) have raised an estimated $3.6 billion this year, and regulators across the world have begun to eye them with increasing concern. In Bermuda, however, the government views them as an economic opportunity.
Announced on Thursday, the island territory’s government has established the Blockchain Legal and Regulatory Working Group, an initiative created to make Bermuda a “destination for utility tokens, tokenised securities, cryptocurrencies, and coin offerings”.
The founders of blockchain startup Tezos have been hit with a second class action lawsuit related to the project’s initial coin offering (ICO).
Filed by legal firm Silver Miller in the U.S. District Court in Florida, the suit alleges that Tezos founders Kathleen and Arthur Breitman — along with their company Dynamic Ledger Solutions and the independently-operated Tezos Foundation — illegally sold unregistered securities to U.