Block chain supervision in the wave of Gibraltar released ICO announcement


nnPost Comment: Gibraltar Financial Services Committee announced that it would develop a regulatory framework for encrypted currency trading. Future ICOs may also go into regulatory areas where consumers must be wary of ICO’s speculation and risk. Many countries around the world began to regulate such financing activities, but the development of block chain technology is still a lot of countries attention and support.n
nTranslation: Annie_Xun
The Gibraltar Financial Services Commission, a financial regulator of the UK’s overseas territories, has announced a new regulation aimed at regulating the money trading industry.n
In a September 22 statement, the committee said that in January 2018, a new block chain corporate regulatory framework would be adopted, which would use the chain chain “to store and transfer values ‚Äč‚Äčthat belong to others.” The agency said the ICO may be included in the regulatory review in the near future, “taking into account the complementary regulatory framework, covering tokens to promote and sell, combined with the Distributed Letters (DLT) framework.”n
The committee said that ICO investment projects are currently unregulated, that is, investors can not resort to any form of financial compensation scheme or Ombudsman.n
The statement aroused public vigilance to ensure that they know the “high speculation and risk” of coinage sales financing.n
n”ICO is an unregulated business or project financing approach, usually at an early stage, and often the products or services of a company or project are not yet fully designed, built or tested, but are available for operational benefits.”n
nOver the past few months, a number of agencies around the world have issued similar ICO project risk warnings. China is directly prohibiting this way of financing, some local encrypted currency exchange has stopped service.n
However, the DLT in other government agencies appears to be developing, such as the August Gibraltar Stock Exchange announcing plans to become the world’s first regulated exchange to use the chain chain for securities trading and settlement.n

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