European Parliament presented a proposal for ICO regulations

The Economic and Monetary Affairs Committee of the European Parliament recently presented a proposal for the creation of new regulations for Initial Coin Offerings (ICOs).

The one in charge of presenting the draft was Ashley Fox, who serves as a member of the European Parliament (MEP) on behalf of the United Kingdom. The parliamentarian wrote a series of rules for tax collection platforms and operating companies.

This proposal is in development since 2017, being a formal initiative of the European Commission.

“This regulation gives ICOs the opportunity to prove their legitimacy by meeting established requirements. Although this regulation may not provide the solution for the regulation of the ICOs market, it is a step forward towards the imposition of standards and protections for what represents an excellent form of financing for technology startups“, said Fox.

The draft also ensures that providers will be authorized to “generate capital through their platforms using certain cryptocurrencies”.

The representative of the United Kingdom closed her participation, assuring that the importance of this proposal is in establishing parameters of the ICOs given that its field is one that is not regulated.

K. Tovar

Source: Coindesk

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