One more European country intends to regulate ICO
The Lithuanian authorities gathered last week to discuss the issue. According to the official statement of the Service of investigation of financial crimes in the country (FNTT), before politicians and heads of States were presented, which discussed the threats and potential benefits of virtual exchanges and ICO.
In this project, the Director of FNTT Antonio Makulski told the assembled representatives and is translated into English – that “Service of investigation of financial crimes in favour of innovation and innovative technologies, but they should be subject to a specific regulation and control mechanisms “.
He added that “the virtual currency has huge cash flows, but worried about how to convert them into dollars and euros as fast as possible, leaving the virtual currency as quickly as possible”.
The numbers discussed during the seminar included the apparent $ 500 million that was raised from the Lithuanian beginners ICOs, and visitors are warned about overly regulated and, in turn, paralyzing the market. However, FNTT advised to regulate, apparently, passing and exceeding the requirements of the Directive of the European Parliament on this issue earlier this year. “In Lithuania, urged to adopt more stringent procedures and prevent potential crimes,” the statement reads FNTT. Expect more about this regulation with time …