Considering the high level of scam associated with ICOs presently, many investors are at risk of loosing their investments. Bounty hunters like us are not spared as we may be rendering free services to some scammers and also risking our personal data.
I suppose a regulatory body be set up to audit the ICO process and the founders, and if anything goes wrong or should the project fail, they will be liable. This will reduce drastically investors risk and also keep scammers away. What do you think?
That is a good idea! There are also platforms that minimize such risks associated with some projects failing to meet their expected goals; still using smart contracts. But the funny thing is that they are also ICO-oriented. I suppose a regulatory body be set up to audit the ICO process and the founders, and if anything goes wrong or should the project fail, they will be liable. This will reduce drastically investors risk and also keep scammers away. What do you think?
I am in no way associated with this platform but i think they have a nice offering,W12.io
However if there are regulations like "There can't be more than 210 million coins" or "institutions can't have more than 50% of the minted coins" and whatever like that which basically deals into the coin itself than that's bad. We should make that difference clear and show that the possible regulations that help the customers and the possible regulations that basically takes control of the coin itself are both "regulations" whereas one is really needed while other is horrible.