Former S&P President Leads Seed Round for ICO Compliance Startup

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Regtech and compliance startup iComply has just completed a seed funding round led by former Standard and Poor’s president Deven Sharma. The firm – which seeks to develop standard compliance tools and services for other blockchain startups and in particular those which launch initial coin offerings or ICOs – announced Monday that it raised a seven-figure number during the round, although it did not provide an exact figure. DMG Blockchain and Block X Capital also participated in the round. In its announcement, iComply also revealed that former CFTC official Jeff Bandman, former Nasdaq and Financial Industry Regulatory Authority (FINRA) executive Manny Alicandro, MIT fellow Praveen Mandal and attorney Thomas Linder have joined the startup as advisers. In conversation with CoinDesk, Sharma said he chose to invest in iComply specifically because of the startup’s “focus on compliance and risk services for ICOs.” Compliance, he said, will help ease regulator concerns by providing transparency