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The PwC Strategy in collaboration with the Crypto Valley Association (CVA), a not-for-profit established to foster the growth of the blockchain ecosystem in Switzerland, has published the June 2018 edition of their quarterly reports on the global Initial Coin Offering (ICO) market, as per a press release.
The report highlights maturation of the global ICO marketplace; New jurisdictions seek to emulate the success of traditionally ICO-friendly hubs such as Switzerland.
Zug, Switzerland, June 28, 2018 – PwC’s strategy and consulting division, in collaboration with the Crypto Valley Association (CVA), a not-for-profit established to foster the growth of the blockchain ecosystem in Switzerland, has launched the June 2018 edition of their quarterly reports on the global Initial Coin Offering (ICO) market.
The report provides a comprehensive overview of ICO activity globally while exploring key shifts in the space since 2017. It also presents the insight into regulatory developments in key blockchain hubs such as Switzerland, the United States, and Singapore and examines emerging trends in smaller jurisdictions globally. It concludes by examining how ICOs are disrupting the world of traditional finance.
According to Daniel Diemers, Fintech Leader Switzerland, Head of Blockchain EMEA at PwC Strategy, this report highlights the continued growth and popularity of ICOs globally in 2018, with over 537 ICOs conducted in the first five months of this year, raising a combined total of $13.7 billion USD – more than all ICOs which took place before 2018 combined. Going forward this quarterly report on global ICO activity will continue to track the changes and developments in the industry as it undergoes continuous expansion and substantive change.
Diemers says that Switzerland, the United States, and Singapore continue to be leading centres for ICO activity, the United Kingdom and Hong Kong have emerged in 2018 as increasingly significant actors within the nascent global market. Smaller jurisdictions including Liechtenstein, Gibraltar and Malta are also following in the footsteps of Switzerland to position themselves as ICO-friendly hubs.
The report also sheds light on regulatory developments, particularly within smaller jurisdictions seeking to emulate the success of ICO hubs such as Switzerland. The regulatory developments in the gamut of ICO space, recognizing three idiosyncratic approaches which could be utilized to characterize the majority of emerging frameworks: ‘securities-driven’, ‘balanced’, and ‘binary’, predominantly seen in North America, Europe, and Asia, respectively. Courtesy: CVA website, PR sources
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