Blockchain technology enables the creation of highly secure transaction records (blocks) which are recorded on an electronic distributed ledger.

The aim of this article is to outline the development of blockchain and its relationship with cryptocurrency and initial coin offerings (ICO). It looks at basics behind the blockchain, explores the current regulatory landscape and details the process of an ICO. The article tries to draw out conclusions and forecasts on how the legal/regulatory environment may evolve, promising new opportunities for those who wish to enter this new space.

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