It is important to understand the guidelines issued to ICO creators by regulators of crypto projects so as to avoid problems with launching ICOs in 2019.
The Financial Services Commission (FSC) of South Korea had reiterated that ICO is ban in the country. There are findings of misinterpretation by some ICOs but the financial watchdog has reaffirmed its stand.
According to the global media, the Malaysian cryptocurrency regulation under the title “Capital Markets and Services Order 2019,” comes into force this Tuesday. The statement was made by the Minister of Finance of Malaysia Lim Guan Eng.
This Wednesday, the European Securities and Markets Authority (ESMA) published its recommendations on initial coin offerings (ICO) and digital assets, stressing that some of them can be qualified as MiFID financial instruments.
According to the news resources of January 8, the Japanese Financial Services Agency (FSA) is considering the issue of regulating the activities of unregistered firms that attract investments in cryptocurrency.
The past 2018 year was quite difficult for the investors in the cryptocurrency market. Bitcoin and other virtual cryptos have lost more than 80% of their price and others have completely vanished. Some ICO projects suffered as well; certain companies had to fire part of their employees, cut production or eliminate entire firm.
The Philippines is a country with the fastest growing crypto industry. Currently, governmental financial control authorities are considering the introduction of the new rules of cryptocurrency and ICO control. However, the project of the new ICO and crypto market regulations are still in the draft stage.
The United Arab Emirates regulatory body has approved ICO tokens as securities and a completed framework will be available in the middle of 2019.
Thai’s securities regulator will allow the first Initial Coin Offering (ICO) portal to function from this December according to local news reports.
Although the speculative cryptocurrency market calmed down due to the pressure from the governmental financial regulators, investments in blockchain-based startups continue to grow. During 2018 over 4 billion dollars were invested in such projects. According to the crypto market analysts, instead of going through the initial coin offerings (ICO), more venture capital is now turning to the blockchain startups as the new form of investment.
The step comes in pursues of keeping the country as a top-notch in the financial sector with all new.
Just a week ago, the Federal Financial Supervision Agency of Germany (BaFin) issued a three-page guide entitled “Warning of uncontrolled investments on the Internet” for investors on how to identify fraudsters. This week it was announced that the German financial regulator has released another document dedicated to the “black market” and the blockchain.