SaftLaunch, an initial coin offering (ICO) platform, announced recently through its company email that it has rebranded to RenGen Labs. The company has supported several leading ICO issuers such as tZero since it launched its operations. Reports reveal that RenGen Labs plans to allow unaccredited ICO issuers to participate in the launch of ICOs, a move that is raising speculations among the potential investors.
ICOs originated from the urge to issue tokens that would economically allow the potential investors to participate in the decentralized networks. From 2013, thousands of popular initiatives including Bitcoin (BTC) and Ethereum (ETH) have significantly utilized the ICO concept to raise funds for crypto-related activities.
The cryptocurrency market is barely five years old, but by end of 2017, the industry had already raised over $4 billion in capital through ICOs and despite the money laundering and other illegal activities associated with the cryptos, the innovative technology seems to grow faster than anticipated.
The first compliant ICO to be issued on SaftLaunch was tZero since it followed all the requirements of the existing securities laws. In the US, it’s a requirement that all securities exchanges be registered with securities state regulators. However, only a few ICOs such as tZero have offered security tokens.
RenGen Labs is basically a token issuance platform that focuses on issuing a security token for any interested public company. The company is particularly designed to predict any compliance regulations and other regulatory inquiries on behalf of the client.
Regulators are progressively joining efforts to focus on the crypto model. Last month, the G20 countries held a conference in Buenos Aires and one of the main agendas was how to control the growth of cryptocurrencies. The team collectively agreed that the crypto assets are still considered too tiny for any systematic importance, but will closely monitor the development of the market including curbing the illegal activities associated with crypto-related activities.
When crypto assets, particularly BTC, were first launched in the market, there was a negative perception that the tokens are linked to cyber-criminals who use the digital currency to fuel money laundering activities. Gradually, there has been great insight about the crypto assets that are giving people confidence to indulge in the emerging space. Several countries including Australia and South Korea are already setting policies to regulate the industry and building the crypto infrastructure to support the crypto market.