Topic: Canada Court Holds ICO Organizer in Contempt - page 2. (Read 1162 times)
Good step by the Canadian authorities, it will help to reduce the increasing number of ICO scams. There should be some strict law, if someone is collecting the funds from the people with the intentions of scamming them. Such ICO scams are spoiling the image of cryptocurrencies, hence proper measures should be taken to burst the same.
That’s likely to happen for there is so much scamming and relentless abuses behind ICO projects.. As long as it is for the protection and interest of the investors,, i will support it.. But what if the one reporting it is a competitors who just want to make that ICO in bad light.. Canada been a versatile government and hoping this would be copied in my country..
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Little by Little we can see that regulations ( soft policies ) can help to eradicate and minimize scam coins and also the pump and dump-made ICOs because Government regulating and observing them. Taxes will be there and Cases and sanctions will be there.
Good for Canada. Regulations get a bad rep, but in this case, it's a complete win for consumers. The regulations only really affect the ICO organizers, so investors have nothing to worry about. ICOs are really nothing but a scamfest mess right now, and I am of the opinion that regulation is direly necessary. Eliminating these scammers should help the smaller and lesser known but legit ICOs to raise the capital they need. It's a win for legit ICOs, and it's a win for investors. I hope the rest of the world takes a similar approach.
It's kind of weird for this specific case though. The article said these entities were barred from pushing through with their ICO, but didn't say why. Still, if they wanted to go through with it despite specific orders not to, I can only assume something shady must be going on there.
It's kind of weird for this specific case though. The article said these entities were barred from pushing through with their ICO, but didn't say why. Still, if they wanted to go through with it despite specific orders not to, I can only assume something shady must be going on there.
I somewhat support that step taken by Canadian government. Because ICO is a controversial method of raising funds without any central authority approval. A lot of scammers are swarming the field and a lot of investors have already lost their invested money because the company didn't turn up with what they promised during ICO. If it can't be regulated now, the ICO market will become similar to HYIP and that will have a positive impact on crypto currency market. If it can be regulated under a central agency, then the investors can be assured with their invested money and also the product on which the ICO owner is banking on. Banning ICO is not a solution but providing a proper framework and monitoring is required for the interest of the investors and for the market as well.
via CoinDesk https://www.coindesk.com/canada-court-holds-ico-organizer-contempt/
It is now possible to have a regulated ICO in Canada, via the sandbox program... https://www.securities-administrators.ca/industry_resources.aspx?id=1588
So be prepare to see more and more arrest and lawsuits bring by the Canadian Regulators, on any undocumented, unverified and unregulated ICO.
I think this could be a first step to start to "drain the swamp" from scamsters to good guys..
Louis
www.bitcoin-law.ca
It is now possible to have a regulated ICO in Canada, via the sandbox program... https://www.securities-administrators.ca/industry_resources.aspx?id=1588
So be prepare to see more and more arrest and lawsuits bring by the Canadian Regulators, on any undocumented, unverified and unregulated ICO.
I think this could be a first step to start to "drain the swamp" from scamsters to good guys..
Louis
www.bitcoin-law.ca
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