The European Parliament introduces new rules for ICO

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According to coindesk.com the members of the European Parliament held a meeting to discuss new rules of the ICO.

Union innovative group in the European Parliament gathered to study the potential benefits and challenges in the regulation of the ICO.

Ashley Fox, a member of the European Parliament, said:

“You can be sure that as legislators we’re trying to do ICO more successful. It is certainly our goal.”

At the meeting it was also noted that many of the representatives and regulatory bodies emphasize the need for more scrutiny of supply of the coins, given the prevalence of fraud.

Laura Royl Management of financial conduct (FCA) said that they definitely see a huge potential benefit in this space for companies to attract big investors.

Although the meeting was not reached a clear consensus on the way forward, members of the European Parliament can still amend the proposal prior to 11 September, thereby creating the preconditions for further discussion.

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