ICO news

EU policymaker will perform assessment for every initial coin offering to push regulations

EU policymaker will perform assessment for every initial coin offering to push regulations
Oct 10, 2018 by Rico Wise

Steven Maijoor, the chairman of the ESMA, claimed that he had been monitoring the existing policies, which would fit an initial coin offering. He also pointed that to this moment, such offerings had no opportunity to display their true potential when compared to conventional fundraising campaigns.

Maijoor provided an explanation for the Committee on Economic and Monetary Affairs that certain initial coin offerings have some things in common with financial tools and therefore should adhere to regulations.

Furthermore, the question arises regarding the fate of those ICOs that do not fit the regulatory provisions. This issue is subject to a board discussion, with report coming up by the end of 2018, according to Maijoor.

In the meantime, Valdis Dombrovskis, the Vice President of the European Commission, has stated in the ECOFIN meeting held previous month that digital currencies are not a thing that will pass. He also stated that the digital currency market would increase in spite of the fluctuations seen with the currencies.

Overall, the world is moving towards defining regulatory frameworks for digital currency-related activities. The US SEC has received a demand from 15 Congress members last month, wherein the Commission is requested to provide clarity regarding the status of digital assets, including ICOs.

Authorities of the United Arab Emirates have recently made an announcement about launching an initial coin offering to support fundraising for businesses next year. Additionally, the government intends to introduce regulations regarding the ICOs within the first half of 2019.

Linked pages

Related news

Related people

Chair of European Securities and Markets Authority
Rating
2152 of 2707
Vice President of the European Commission
Rating
2153 of 2707

Related companies

U.S. Securities and Exchange Commission
Rating
3 of 450
​The Commission represents and upholds the interests of the EU as a whole, and is independent of national governments
Rating
150 of 450
European Securities and Markets Authority
Rating
114 of 450