Article originally published on Cointelegraph.com.
Make a note on your calendars - January 2018 was when it all changed. The freewheeling world of cryptocurrency ran headlong into an intractable wall of US regulators.
Not that there weren’t hints of regulatory action in the air. The Securities and Exchange Commission had already shut down two initial coin offerings (ICOs) in December and rolled out a cyber unit with ICOs under its purview, but regulators put down their marker and turned the heat on full blast last month.
The near-daily flogging of hedge funds in the media and in Washington can dampen even the most optimistic manager’s spirits, but, for the sake of their products’ survival, managers now must make a bold, uncomfortable move.
Recently, the industry took another blow. Bloomberg reported the Securities and Exchange Commission is reviewing how hedge funds handle shares bought during initial public offerings — another burden on a much-scrutinized industry.