ICOs Can ‘Prove Their Legitimacy’ Under New Crowdfunding Rules, Says EU Lawmaker.
Emphasizing that ICOs represent “an excellent funding stream for tech start-ups,” the report proposes that the new framework offers an “opportunity” for “ICOs that want to prove their legitimacy to comply with the requirements of this regulation”:
“In order to allow for a competitive Union framework, crowdfunding service providers should be permitted to raise capital through their platforms using certain cryptocurrencies [...] ICOs offer new and innovative ways of funding but can also generate substantial market, fraud and cyber security risks to investors. Therefore, [ICOs] should comply with specific additional requirements under this Regulation.”
Picture and Article were Published by CoinTelegraph
