UK financial regulators to further review ICO

nRunaway Comment: The UK’s financial regulator announced it would analyze the suitability of national laws in the ICO financing model and assess the need for “further regulatory action.” The agency had previously said ICO is a speculative risk of existence, there is no corresponding protective measures. Market participants should pay attention to protecting the interests of consumers. To this end, the regulator widely draws on market participants’ opinions.n
nTranslation: Annie_Xun
Last Friday the UK financial regulator announced that it would analyze the applicability of national laws in the ICO financing model and assess the need for “further regulatory action.”n
Friday’s feedback linked to past blockchain publications, as the Financial Conduct Authority of the UK wrote that the plan was to “make a deeper inspection” of development by gathering more evidence and information, .n
n”The findings will help us to determine if any regulatory action needs to be taken in this area, except for the consumer warning issued in September.”n
nAt the time, FCA issued a consumer warning that ICO “a very risky speculative investment.” ICOs are unregulated, so some of the protections of other assets do not extend into this market.n
Other potential risks mentioned include cryptocurrency fluctuations and the possibility of fraud.n
However, in this feedback, FCA also simply expressed the conviction that the operations of ICO enterprises need to guarantee “consumer interests”, and at the same time denied that the guidance issued by them is unrelated to the public chain.n
The FCA Blockchain Discussion Paper received 47 responses from various market participants, including regulated companies, trade associations and law firms.n

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