Digital Currency Sales Take Off, But With No Regulation Questions Abound

[Ron Burgundy]

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - A small, but rapidly growing number of digital technology start-ups is raising cash by creating and selling their own currencies in offerings that bypass banks or venture capital firms as intermediaries and are outside the reach of financial regulators. Investors are being drawn in on hopes that such "initial coin offerings" will match or exceed the performance of the first digital currency, bitcoin. For the sellers, the appeal of selling their own currencies, or tokens, to raise cash is enormous.

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