The Initial Coin Offering (ICO) Process: Regulation and Risks

Karpenko, Oksana A.; Blokhina, Tatiana K.; Chebukhanova, Lali V.

doi:10.3390/jrfm14120599

Cited by 13 publications

(4 citation statements)

References 14 publications

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“…ICO is a method of raising investment funds for a cryptocurrency project by transferring a portion of a newly developed cryptocurrency to investors in exchange for cash or other cryptocurrencies [66]. Whereas the ICO process has led to the creation of successful tokens, there have also been instances of scams and abuse, which have highlighted the need for appropriate regulation [67], [68], [69].…”

Section: Topic Analysis From Web Of Science Datamentioning

confidence: 99%

Unveiling Cryptocurrency Conversations: Insights From Data Mining and Unsupervised Learning Across Multiple Platforms

Jung,

Lee,

Kim

2023

IEEE Access

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The rapid growth of the cryptocurrency market has led to an increasing interest in the subject. Cryptocurrency is now recognized as an asset, and laws and financial regulations have begun to emerge for supporting its practical use. As a result, it has become essential to perform data mining and attain knowledge from text data related to cryptocurrency. Previous studies have focused on analyzing data from a single source such as Twitter. However, there are unique insights to be gained from data acro ss multiple platforms. In the present study, we utilized data mining techniques to extract insights from LexisNexis, Web of Science, and Reddit, representing the media, academia, and general public, respectively. Among unsupervised learning technologies, topic modeling was employed for the analysis. Topic modeling is a methodology that uncovers hidden meanings within the collected data. Among the diverse topic modeling techniques available, bidirectional encoder representations from transformers topic was chosen for the analysis. BERTopic considered to be state-of-the-art in the field of topic modeling. Dynamic topic modeling was employed to track changes in themes over time. Our experimental results reveal a tendency in the news to cover major events related to cryptocurrencies, such as regulatory developments and market t rends. Academic papers, on the other hand, tend to focus on the technology behind cryptocurrencies and related research. Finally, social media conversations center more around information delivery from an investor's psychological perspective, such as market sentiment and investment strategies.

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Section: Topic Analysis From Web Of Science Datamentioning

confidence: 99%

Unveiling Cryptocurrency Conversations: Insights From Data Mining and Unsupervised Learning Across Multiple Platforms

Jung,

Lee,

Kim

2023

IEEE Access

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“…However, not all cryptocurrencies are ICOs; all ICOs together comprised only 2.8 percent of the 2021 cryptocurrency market capitalization. As of January 2021, 5728 ICO projects raised, USD 27 billion, making them a mere drop in the sea of all cryptocurrencies' centralized exchange economy worth USD 1 trillion (Karpenko et al 2021). It seems that the ICO hype is over.…”

Section: Stack Regulation Of Cryptocurrency Exchange Platformsmentioning

confidence: 99%

The Elephant in the Dark: A New Framework for Cryptocurrency Taxation and Exchange Platform Regulation in the US

Çalışkan

2022

JRFM

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The proliferation of cryptocurrencies and the remarkable expansion of novel economic practices associated with them pose an unprecedented challenge to established norms of taxation and market regulation. Drawing on two years of fieldwork, surveys, as well as big data analysis of the most valuable 100 cryptocurrencies’ white papers and the terms of service agreements of all cryptocurrency exchange platforms, this paper proposes an evidence-based framework to design a novel regulation and taxation approach to cryptocurrencies and their markets by using the US as case study. This new framework calls for approaching cryptocurrencies as data money. Drawing on the material political economy of new digital financial practices, the paper locates the universe of taxable events and invisible/vague regulation areas by approaching exchange platforms as stacked economization processes. We need to make sense of these new economic spaces in order to imagine more effective regulative instruments addressing questions of economic actor protection and efficiency. The paper concludes by proposing a new instrument of taxation (Data Money Tax) and a dynamic regulative approach to cryptocurrency exchange platforms (Stack Regulation).

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“…The confusion of being mislabeled as a security instead of a currency in the SEC eyes made the majority of the ICOs ban US investors in an attempt to become foreign offerings, thus not within the SEC reach (Lockaby 2018). The contrasts are event more on a global level (Karpenko et al 2021).…”

Section: Introductionmentioning

confidence: 99%

An Entrepreneurial Definition of the Blockchain Technology and a Stacked Layer Model of the ICO Marketplace Using the Text Mining Approach

Gomaa

2022

JRFM

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The landscape of ICOs and its underlying Blockchain technology needs more clarity, given that several overlapping and opposing views exist from governmental institutions, institutional investors, economists, and academia. Those positions stem from confusion, bias, and vested interest. Having consensus from the pioneer entrepreneurs who define Blockchain technology usage, and its marketplace address this need. Furthermore, an agreement on the problems blockchain is solving from the industry perspective would further the understanding of the technology direction and its “raison d’être.” or “reason of existence”. The paper analyzes 4367 businesses that requested funding using ICO whitepapers and raising more than $20 billion US dollars during the most active ICO period. Using Latent Semantic Analyses (LSA), the paper identifies a one-factor solution that explains 98.15% of all ICOs. The paper conducts a second-order analysis that generates an 18-factor solution. Through the empirical analysis, the paper presents its findings as an ICO marketplace stacked layer model. The model is comprised of four layers: (1) Trust; (2) Value exchange; (3) Automation; and (4) Applications to enable value exchange, and an era of new business models. The paper then presents an unbiased, unified entrepreneurial definition of the Blockchain technology usage.

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The Initial Coin Offering (ICO) Process: Regulation and Risks

Cited by 13 publications

References 14 publications

Unveiling Cryptocurrency Conversations: Insights From Data Mining and Unsupervised Learning Across Multiple Platforms

Unveiling Cryptocurrency Conversations: Insights From Data Mining and Unsupervised Learning Across Multiple Platforms

The Elephant in the Dark: A New Framework for Cryptocurrency Taxation and Exchange Platform Regulation in the US

An Entrepreneurial Definition of the Blockchain Technology and a Stacked Layer Model of the ICO Marketplace Using the Text Mining Approach

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