European regulators are determining whether to regulate initial coin offerings as securities sales on a case-by-case basis, Reuters reported Monday.
European Securities and Markets Authority chair Steven Maijoor told the European Parliament economic affairs committee that some ICOs resemble financial instruments, which would place them within a specific regulatory framework.
The regulator is still analyzing how best to regulate ICOs which do not fall within that bucket.
"The subsequent question is what do we do with those ICOs that are outside the regulatory world. We will assess that as a board. We expect to report by the end of the year."
The news comes less than a week after ESMA revealed it was budgeting more than €1 million to monitor cryptocurrencies and other fintech activities next year.
As previously reported, the agency's 2019 Annual Work Programme set aside €1.1 million for activities revolving around financial innovation, including crypto assets.
At the time, the document stated that ESMA's objective over the upcoming year was to "Achieve a coordinated approach to the regulation and supervisory treatment of new or innovative financial activities."
The regulator intends to compile advice for EU institutions, market participants and general consumers, though it did not provide any specifics.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
European Securities Regulator to Report on ICO Rules by 2019
gepubliceerd op Oct 8, 2018
by Coindesk | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.