According to the expert, ICO enables companies to raise funds from a wide range of investors, and also allows them to avoid many costs of intermediaries.
On the eve of the Inter-Party Group of the European Parliament on the introduction of innovations examined the potential benefits and problems associated with ICO in the preparation of legislation for the sphere of crowdfunding.
In particular, MEP Ashley Fox proposed to limit to 8 million euros the maximum possible amount of investment attracted in the framework of the tokensale. The legislator also insisted on the obligatory observance of the KYC / AML procedures (know your client / anti-money laundering).
If approved, these proposals may form the basis of the standard for tokensails. This, in turn, will allow ICO projects to raise funds in any of the 28 EU Member States.
“Be sure that we, as legislators, are striving to make ICO as possible and successful. That’s our goal,” said Fox.
During the meeting of the group, the managing director of France Digitale, Nicolas Brienne, stated that there is an “urgent need” to make efforts to create a standard for the ICO. According to him, the market “needs to be legitimized,” and in every jurisdiction.
Brienne also stressed that the situation is particularly bad in the UK, where “no bank” serves those who are associated with cryptocurrencies.
“In fact, I welcome this proposal at the European level, because it gives people confidence. I think we should clearly clarify which tokens are utilitarian and which transferred securities, and how the regulator should look at all this. I think “All this has to be done because ICO is a form of crowdfunding,” he said.
The representative of the Office of Financial Regulation and Supervision of Great Britain Laura Royle noted that her agency “sees significant potential benefits” in the new form of financing.
Also, according to her, ICO allows companies to attract funds from a wide range of investors, and also allows to avoid many costs for intermediaries. However, she believes that the main risks are associated with ample opportunities for fraud, lack of transparency and the volatility of digital coins.
During the meeting, no specific decisions were made, however, members of the European Parliament are invited to offer their comments before September 11, which will be considered during the next stage of the discussion.
Recall that per day the price of BitcoinDark cryptocurrency increased by 400 percent .
Earlier it was reported that the Bitcoin exchange rate stopped the growth, while the rest of the cryptocurrencies are going to peak .
Recall that the founder and partner of Morgan Creek Digital Assets, Anthony Pompiano, earlier this year predicted that by the end of 2018 the price of bitcoin could rise to $ 50,000 , but now it is less positive: in his opinion, it is likely to fall to $ 3,000.