Lowell Ness quoted in the CNBC.com article, “Crypto Start-Ups, Concerned About A Crackdown, Have Registered Over $350m Worth of ICOs with the SEC” regarding the hype around initial coin offerings, the lack of regulations and how crypto start-ups are taking compliance into their own hands.

"The view people are starting to settle on is that a pre-sale of a tokenized service needs to be done as a sale of a security," said Lowell Ness. "They use the proceeds from that sale to go build the network. Once the network has been built and the token is fully functional and could be immediately used, then it's OK to deliver the token to the world."