Quote:The SEC's intention here is to see whether or not any of these ICOs have been designed and offered in ways that contravene the established securities trading practices and regulations (heads-up: many of them most likely have). More specifically, the SEC is demanding information regarding the structure of ICO sales and pre-sales - where many of these actually fall apart in their transparency. According to former SEC commissioner Dan Gallagher, "We're seeing the tip of the iceberg ... there is going to be a ton of enforcement activity". Naturally, the very nature of the blockchain and ICO startups can simply build themselves up in ways that prevent them from ever being identified - after all, fake websites, media accounts, and white papers are all relatively easy to forge, and considering the current state of the cryptocurrency and ICO market (which has improved compared to last year), some users are always bound to be caught in the net.