CANADA to regulate ICO. RUSSIA is next? - page 2.

Paycoinzzz

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Quote from: asepsetiawan1990 on September 14, 2017, 04:28:13 AM

each country has different reactions to ICO. The regulation provides an illustration that ICO or Token in ICO is something that is considered to have an opportunity seen in terms of a negative perspective.

To be honest recently, ICO market has changed many much and it does not keep nature of a type investment for long term or future.
It look like as speculative, even a huge speculative place for speculators spend their money to invest into them.

baam25

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Nothing is confirmed how come everyone is talking like it's a done deal? If regulations do come in they will provide the crypto market with some much needed legitimacy.

asepsetiawan1990

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each country has different reactions to ICO. The regulation provides an illustration that ICO or Token in ICO is something that is considered to have an opportunity seen in terms of a negative perspective.

slaman29

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Livecasino, 20% cashback, no fuss payouts.

Russia is the likely option, but actually, next could also be India, as it has already been in the news that its central bank is looking into ICOs. After China, India is the biggest country population wise. In terms of global population, China and India already equal about one-third of the planet's people. Remember, this is not about regulating cryptos but ICOs, which will be a good thing for everyone in crypto. Once it is no longer seen as a threat, people will recognise the difference between crypto as a tech and ICO as one of many funding vehicles.

Jian Yang

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Quote from: mistercoin on August 31, 2017, 10:56:33 AM

Quote from: HotelChain on August 27, 2017, 12:14:09 PM

There is another big step towards market regulation. Canada following US and Singapore claims that any coin during ICO/ITO to be security. Staff Notice 46-307 issued by Canadian Securities Administrators reveals that many of the digital tokens investigated by regulators in Canada fall under the definition of a security, thereby triggering a range of legal requirements.

This means that Canada closed their boarders to almost all ICO campaigns. Will it affect behavior of Canadian cryptoenthusiasts? (Opinion of Canadian and US residents are highly appreciated).

What country is next to regulate ICO?

As a canadian, I don't personally feel threatened by this. Governments will always try and stick their noses into things they do not or cannot fully understand. I think the big thing that would be affected by it if it does ever pass into law, would be the exchanges that host the ICO/IPO's. Look at New York and how the laws passed by them on cryptocurrency (Bitlicense I believe it's called) have affected the exchanges and the users within New york. Some have gone as far as IP blocking NYC citizens from using their exchanges, or a warning page agreeing that you are not living in the state.

Naturally this doesn't really affect them too much, VPN's and other loopholes/means to access and use the platforms exist, but I think the point is that world governments are starting to notice us, and if they are starting to place regulations around buying and selling, ICO's/IPO's, etc., then imagine another 5 years down the road. I think for now, there is not much to worry about, but in time we could face real problems. Governments everywhere have a tendency to get their greasy fingers into stuff they shouldn't...

Mistercoin--

Are there any precedents of punishment in Canada for breaking laws on crypto market?

Yaneman

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In the long run, it is better that crypto is being regulated. It's something that will happen for sure, the only question is when.

billyj111

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Deal Coin - P2P Lending Eco-system

Well, this is a logical act, because too many fraudsters have come to this market, which do not understand anything at all and collect money for themselves without a rich life.

tothetop

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By the way, we hear many talkings about "bitcoin" in official Russian massmedia, but nobody talks about "cryptocurrency", and I believe we will not hear about "ICO" from our officials in the next observable future..
So far they are planning to mine bitcoin themselves. And maybe they already do it "under table"

Jian Yang

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CHINA news: Bitcoin is still legal in China. But ICO is illegal now!

ammosov

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Quote from: Croin on September 02, 2017, 06:19:12 PM

Actually I see a big problem with all the regulatory stuff going on. As if you want to start a new ICO nowadays if the coin is going to give at least something back like "a precentage of win from x" you have to invest! before even starting the ICO at least 100 000$ for a good lawyer.
I mean wtf they aren't accepting Crypto as a currency but if you make some suprisingly they do...

A buyer in regulated countries has no reason to be concerned but an issuer - yes.

https://news.bitcoin.com/a-phone-call-from-sec-pressures-ico-startup-to-close-operations/

Traxo

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Quote from: HotelChain on August 27, 2017, 12:14:09 PM

CANADA to regulate ICO. RUSSIA is next?

The G20 has started to coordinate and harmonize their financial regulation and enforcement as originally announced would begin January 1. 2017.
The details are in the blog linked below…

I'm divesting (selling) all ICOs and never investing nor buying an "ICO-issued" token, because
I don't want to go to jail or suffer massive fines and watch my investment collapse in the future:

Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?

Croin

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Actually I see a big problem with all the regulatory stuff going on. As if you want to start a new ICO nowadays if the coin is going to give at least something back like "a precentage of win from x" you have to invest! before even starting the ICO at least 100 000$ for a good lawyer.
I mean wtf they aren't accepting Crypto as a currency but if you make some suprisingly they do...

tothetop

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Whatever anyone may say, Rusia is not the next here.. In 2018, we have presidential elections and at such a moment they will not regulate anything to the detriment of the majority that is not interested in any regulations.

ammosov

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Quote from: cdb1690 on September 01, 2017, 09:28:50 AM

Quote from: ammosov on August 31, 2017, 11:55:24 AM

What really matters is that most recent situations (US, Singapore, Canada, etc) are not regulation because no new rules are created. Rather, they all apply old rules to new situations. This is worse than new rules - new rules only work forward in time, while old rules can be applied to past. A government can claim that they looked at what was done before and the whole thing was not legal in first place.

One of the laws used by US government to crack down online gambling is called Wire Act. It is piece of legislation written in 1961, which intended purpose was to make illegal to transmit horse race information via telegraph! for betting purposes. If someone can claim that telegraph = internet, he can also claim that ICO = share.

Good example indeed! This is called 'legal reasoning by analogy'. In Roman law, there is a well known commentary that grapewines must be called in court only trees since the law treats them as such (even though they are more like shrub or hard grass) and whoever calls a grapewine 'grapewine' loses the case instantly. Ditto, tokens that confer a right to a fixed part of profits are shares in disguise for almost any court or legal authority. If it walks like a duck and quacks like a duck, it's a duck.

ammosov

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Quote from: posternat on September 01, 2017, 12:17:43 PM

The thing is that the same process can be packaged differently and handled slightly different and stay under the radar for a long period of time. What really needs to happen is that within our own Community we need to regulate how these are handled. You have a company , individual, or a group of people that makes a certain number of promises to each of its vested members , and at this time because of the regulations we have absolutely no way to hold them accountable for those promises.

Formally this is not that bad - law of the land applies to such situations nevertheless. However, every norm requires enforcement and authority. As long as everything in the community is karma-based, the worst punishment for an offender is karma loss. However, if a person raises 2000BTC, cashes its out to fiat and runs away there is hardly anything that can or should be done except an old fashioned police report and criminal case for fraud.

senin

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Regulation of the ICO market can have both polokhitelnye and negative sides. On the one hand, the ICO will not, perhaps, allow unqualified persons who would create coins for personal gain. However, excessive regulation of the crypto currency will be harmful and will call for such a market from the territory of this country to flow into other countries with more suitable conditions. Canada as a whole is characterized by loyal legislation, therefore, let's hope that there will be no excessive regulation and politicization in matters of organization and conduct of the ICO.

posternat

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The thing is that the same process can be packaged differently and handled slightly different and stay under the radar for a long period of time. What really needs to happen is that within our own Community we need to regulate how these are handled. You have a company , individual, or a group of people that makes a certain number of promises to each of its vested members , and at this time because of the regulations we have absolutely no way to hold them accountable for those promises.

cdb1690

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Quote from: ammosov on August 31, 2017, 11:55:24 AM

What really matters is that most recent situations (US, Singapore, Canada, etc) are not regulation because no new rules are created. Rather, they all apply old rules to new situations. This is worse than new rules - new rules only work forward in time, while old rules can be applied to past. A government can claim that they looked at what was done before and the whole thing was not legal in first place.

One of the laws used by US government to crack down online gambling is called Wire Act. It is piece of legislation written in 1961, which intended purpose was to make illegal to transmit horse race information via telegraph! for betting purposes. If someone can claim that telegraph = internet, he can also claim that ICO = share.

Moana

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I've never understood how by regulating ICOs authorities can then check if people buy the tokens at ICO or not...

Blazarius120

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Regulation is actually a good thing. It means people are starting to take crypto seriously

Topic: CANADA to regulate ICO. RUSSIA is next? - page 2. (Read 3093 times)