More ico warning as eu issues two regulatory statements – Bitcoints

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Published on November 14th, 2017 | by bitcoin

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More ico warning as eu issues two regulatory statements

More ico warning as eu issues two regulatory statementsEuropean Union regulators have issued two further warnings on ICOs, directed at both investors and participating businesses.
Released Monday, the European Securities and Markets Authority (ESMA) followed multiple jurisdictions in raising concerns that ICOs may not conform to regulatory norms.
“Additionally, ESMA is concerned that firms involved in ICOs may conduct their activities without complying with relevant applicable EU legislation.” The “concerns” come as the ICO industry undergoes major changes.
Correspondingly, ESMA takes the opportunity to “remind” firms involved in ICOs of their required adherence two four specific EU directives on anti-money laundering (AML).
“It is the duty of the firms themselves to consider the regulatory framework, seeking the necessary permissions and meeting the applicable requirements,” it added.

Source: Cointelegraph.com

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