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New report highlights ICO volume has already doubled since last year

In a report released by a prominent UK firm and the Crypto Valley Association in Switzerland, it has come to light that initial coin offerings are not only booming – but are taking 2018 by storm, already doubling that of last year’s volume.

Despite news of regulation and risk, the volume of initial coin offerings (ICOs) have been found to have doubled in the first half of 2018, compared to that of last year.

In a report from PwC, a consulting firm based in London, and the Swiss Crypto Valley Association, it has been shown that ICOs are still rising, even though the price of cryptocurrencies has seen such a drastic decline recently.

According to the report, jointly released by the firm and the association, the recorded volume of coin offerings in 2018 is already double as much as it was in last year’s market.

“In total, 537 ICOs with a total volume of more than $13.7 billion have been registered since the beginning of the year. In comparison, in 2017 there were a total of 552 ICOs with a volume of just over $7.0 billion. Also, the average size of an ICO has almost doubled from $12.8 million to over $25.5 million since last year. “

The report has found that America, Singapore, and Switzerland have become the three most critical spots for ICOs to blossom, which can be attributed to the progress the nations have made in regulations. Switzerland’s Zug already has claimed the title of being the ‘Crypto Valley’ owing to the city’s major attention paid to blockchain and financial technology-focused startup companies.

We have seen that the model in the three nations has been successful enough to imitate, as nations such as Hong Kong, Gibraltar, Malta or Liechtenstein have all looked to copy the way in which the market and community work in Singapore and Switzerland.

According to regulation, the report has picked out different approaches which seem to be taken by the crypto-friendly countries:

“The US uses a centralized system in which all tokens offered by ICO are traded as securities. In Europe, on the other hand, a differentiated regulation prevails. FINMA, for example, classifies tokens into three sub-types: asset, payment and utility tokens, which do not constitute an actual investment but allow the buyer direct access to the product or service of the ICO. Finally, in Asia, regulation is very heterogeneous, ranging from strict prohibition to active promotion of ICO projects. “