By Bob Penn, Sarah Lewis, Matthew Fisher, Danilo Santoboni and Ulrike Schuster (April 18, 2018, 12:54 PM EDT) -- The directive states that "in light of modern advances," it is important "for reasons of clarity and rationality" to "apply uniform rules that are as strict as possible." Indeed, the regulatory regime established by the directive contains detailed registration, disclosure and marketing requirements. We are, of course, referring to the EU Potatoes Directive. When it comes, however, to initial coin offerings of cryptographically encoded digital "tokens" to retail investors via distributed ledger technology — anything goes! At least that appeared to be so until a multitude of EU regulators recently issued warnings on ICOs....