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According to the SEC, ICOs are a bet on the success of the enterprise�which is due to promoters touting their ability to create an innovative application of blockchain technology. Part IV will argue why historically, the CFTC's enforcement of the digital asset marketplace justifies the Congressional appointment of its authority over the virtual currency spot market. Tuesday, 5 December, MPD conducts the registration, compliance, and business conduct standards of intermediaries, swap dealers and major swap participants. Add this topic to your myFT Digest for news straight to your inbox.