ICOs Raised $21.9 Billion Dollars Globally Says French Regulator

The Autorité des marchés financiers (AMF), France’s financial markets regulator, has released information about funds raised by Initial Coin Offerings (ICOs). According to the report published a few days ago, ICOs raised $21.9 billion dollars since 2014. The regulatory agency considers ICOs as a ‘marginal’ method of financing.

ICOs Raised $21.9 Billion Dollars Since 2014

Since 2014, the number of funds gathered by ICO companies reached $21.9 billion dollars, according to the AMF. The report informs that $6.3 million dollars were raised in 2017 alone. This is equal to 1.6% of the global equity financing the same year. During 2017, there were 456 ICOs launched.

In 2018, the number of ICOs in the market has increased compared to the last year. There were 947 ICOs launched raising $15.1 billion dollars so far only this year. This number is almost 70% of the total funds gathered by Initial Coin Offerings since 2014.

At the same time, the report shows that there is a significant degree of centralization. The document shows that 17 Initial Coin Offerings raised 40% of the funds gathered by the whole industry.

Furthermore, the AMF shows that just 0.46% of the sum raised by the ICO industry all over the world is from France. The country registered only 15 Initial Coin Offerings gathering $100.5 million dollars. The majority of the ICOs have been developed in the United States.

For the regulatory agency, most of the ICOs in the past focused on blockchain solutions or trading applications. However, there are new projects that are trying to diversify the market investing in other sectors. Moreover, most of the upcoming ICO projects have already raised funds through other traditional channels.

Finally, the report shows that there is a need for better regulations all over the world. In general, these ICOs tend to have cross-border projects. This is why is important to have international and European cooperation in this matter. However, France is not the only European country that is asking for clear regulations at the EU. Spain, another country with an important number of crypto projects has several times asked for better regulation and coordination in the continent.

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.