The regulator of securities the EU will prepare a report of the ICO to the end of the year
European regulators must decide whether they will be handling all of the ICO as the offering of the securities or apply to them individually, according to Reuters.
The President of the European organization for securities and markets (ESMA) Steven Major, speaking before the European Parliament’s Committee on economic Affairs, said that some ICO similar financial instruments which allow to apply certain regulatory requirements. However, regulators continue to analyze how best to appeal with the ICO, which do not fall into this category.
“The next question is: what to do with ICO, which are outside the regulatory universe? We have to give the answer in a collective manner. We expect to publish the results before the end of the year,” he said.
Less than a week ago ESMA announced that it will allocate over 1 million euros for the monitoring of cryptocurrencies and other activities in the field of financial technology in the next year. Then according to the published document, the purpose of the Department is to “promote a coordinated approach to the regulation of new or innovative financial activities”.
The regulator also announced that it intends to develop recommendations for European institutions, market participants and a wide range of consumers in the field of cryptocurrency, but did not provide specifics.