Do ICO's need licenses? - page 3. | Bitcointalksearch.org

avikz

legendary

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Quote from: Tulen1990 on October 21, 2017, 12:21:14 PM

Lately there's been a lot of talk about regulation. What about ICO's?

What do you see with the ones complying with governments? It seems to be a big play longevity wise.

For ex. Unikrn got their Malta license, making esports fiat wagering legal in most of europe. Does this pave the way for future ico's? Should this be an indicator of a good, trustworthy ico?

More info: https://www.coindesk.com/regulated-cryptocurrency-betting-just-got-big-boost-europe/

ICO is a very controversial way to raise money and a majority of the ICOs are not trusted. I have seen many ICOs raised funds from the market but didn't deliver the final product which was promised at the initial stage of the ICO. So I strongly believe that ICOs need to be regulated big time. Otherwise, the crypto market will loose its reputation to a handful of scammers.

I believe, a proper license and regulation will bring back the trust in ICO market and more investment will flow in to it. Having new idea is a good thing and raising fund for any idea is a welcoming move. The the company should also maintain their integrity which is currently lacking. So even if License is not mandatory for many countries, but it is a good to have thing.

Qartersa

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As for me, generally, no. But since it is a form of investment, I guess there is a need for some regulation to protect the investors' from other introductory coins that are fraudulent. I think anything that does not have a regulation with it is prone to abuses thus the need for a regulation that does not completely restrict growth and development. In short, a regulation that is just fitting to the needs of investors and the public in general.

kush15785

newbie

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ICO's have very positive future. If not regulated it could bring both clash and cash. Some ICO's has very short lifespan, in this point of view they should be regulated to avoid lose of investor's money, but when they began to be trustworthy they should be free floated, unregulated and free from govt. hand.
As Bitcoin became successful as free float crypto currency, all the ICO's should have their chances at some sort of point.

lili song

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Some of ICO may not require any license at all as we can see for example : China decide ban ICO because they like gambling site, it's too risk for people to invest as they did not operate using license.
Even if they operated with license, the government also need to monitor any ICO activity !

jaocoincrypto18

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Quote from: Tulen1990 on October 21, 2017, 12:21:14 PM

Lately there's been a lot of talk about regulation. What about ICO's?

What do you see with the ones complying with governments? It seems to be a big play longevity wise.

For ex. Unikrn got their Malta license, making esports fiat wagering legal in most of europe. Does this pave the way for future ico's? Should this be an indicator of a good, trustworthy ico?

More info: https://www.coindesk.com/regulated-cryptocurrency-betting-just-got-big-boost-europe/

The government will required ICO to have a license for sure if the digital currency will be completely regulated. The main purpose of regulating is to ensure the safety and the welfare of the people including the nations from fraud and scams therefore any ICO that will lead an digital currency marketing should be required a legal documents so that they can be strictly monitored by the government.

Yarex

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Quote from: Ccexicocartel on October 22, 2017, 09:04:43 PM

I think what's missing from ico's and them forming so quickly is regulation. Regardless there should be some third party or qualifications for ico's to pass before launching and 99% of them scamming people. It's too easy to scam people too. Make a legit looking whitepaper, build a nice custom site, and spread it like wildfire. No one does their research anyways. Licenses should exist.

I've been watching unikoin for weeks and it only looks better that they got their license. Gambling or not, they are killing it. Plus, getting more creidbility looks better for investors and just people in general. They cared enough to go get a license.

it's a real truth. i mean scamming people.but ok, what kind lawyers will give licenses?what agencies?this is a huge problem.that is the question.

ismart1

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Make a difference, make it better.

I don´t believe that should be regulated like the present IPOs, but some basic regulation would be healthy for the market since that would avoid scams and we as investors would benefit from some verification. But completely regulation would probably take good opportunities form the market if these regulations wouldn´t be done guided by an expert from an insider of the cryptocurrency space because most governments are full of policies based on politics and they are unaware of the methods and attributes of the ICO projects.

Endry333

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ICO пocлeднee вpeмя,oчeнь пepcпeктивнaя тeмa

de_xt

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We are prohibited from collecting money as we would like for any business, and there are rules for collecting money from people. It should be checked whether the money collected in ICOs is used for the job and whether the given promises are fulfilled. Digital funds invested by project investors have become garbage because the money collected in many projects does not use to develop the project. Getting a license to do ICO is not enough, but it may be an advantage to attract more investors.

bacardibacani

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Depends which country and industry it is registered in.

orions.belt19

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Quote from: TagaMungkahi on October 23, 2017, 01:16:30 AM

Of course they needed to be licensed, If the Government will not be able to verify and licensed such a business crowd sourcing event then it is considered illegal and Scam. Licenses from Government will also make a risk-free on trusting the ICO because the Government acknowledged it's authenticity.

Just as with IPOs, there should also be regulations for ICOs because generally they are similar. It should be imposed so as to have some control and to avoid frauds and scams. Also, if licenses were issued it would encourage the investors because it would contribute to the legitimacy of an ICO. However, most jurisdictions have not made any specifications in their law because it may not be recognized yet. Some countries may not even recognized the presence of it.

TagaMungkahi

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Of course they needed to be licensed, If the Government will not be able to verify and licensed such a business crowd sourcing event then it is considered illegal and Scam. Licenses from Government will also make a risk-free on trusting the ICO because the Government acknowledged it's authenticity.

samcrypto

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If you are really sure to do business well you really to comply for those licenses to fully and legally operate, and i think this is a great factor for your ICO so investors will surely the project is legit.

elite2291

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Quote from: rjbtc2017 on October 23, 2017, 12:16:53 AM

ICOs are IPOs in digital coin form. Of course they need licenses to operate, ICOs/IPOs are crowd sourcing for a business/product, and Businesses needs licenses to operate as well, some countries ban this because it may result to fraud which is acceptable and justifiable. You can see that the Government on each country, sees ICOs as IPOs and they are handling ICOs as they handle IPOs.

I agree^
This is the best way to prevent scams. Just the other day I saw someone offering services to start your own ico on fiverr for $95 LOL.
This is a great move for unikoingold because they have so many investors interested and a lot of eyes on them.

Nameless27

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In legal perspective, I will go for licensing my ICO if I was one of the owner. Sadly because for many controversy that ICO is dramatically facing right now, the September banning from China to South Korea and scamming investors by ICO team left and right. For them that investors bring back confidence by a licence is a must.

It will not present as legal or legit ICO project but it will surely help more than no license at all.

rjbtc2017

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ICOs are IPOs in digital coin form. Of course they need licenses to operate, ICOs/IPOs are crowd sourcing for a business/product, and Businesses needs licenses to operate as well, some countries ban this because it may result to fraud which is acceptable and justifiable. You can see that the Government on each country, sees ICOs as IPOs and they are handling ICOs as they handle IPOs.

Bourbon44

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In unikoingold's case, it helps them differentiate from their competition. Another factor I think is that they're such a big platform already, so they are just trying to be safe. Big players are the ones that move.

Ccexicocartel

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I think what's missing from ico's and them forming so quickly is regulation. Regardless there should be some third party or qualifications for ico's to pass before launching and 99% of them scamming people. It's too easy to scam people too. Make a legit looking whitepaper, build a nice custom site, and spread it like wildfire. No one does their research anyways. Licenses should exist.

I've been watching unikoin for weeks and it only looks better that they got their license. Gambling or not, they are killing it. Plus, getting more creidbility looks better for investors and just people in general. They cared enough to go get a license.

cvan

member

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Quote from: Tenderino on October 22, 2017, 04:41:11 PM

I can not follow you here as Malta Gaming Authority issues only gambling licenses? Or requested Unikrn separately an ICO license at Malthese authorities or in other countries?

If ICOs need licenses depends on the laws of a country and there are surely a lot of countries that do not ask for licenses.

It's a gambling license I believe. I think what this brings to light is whether ico's should pursue licenses for validity and credibility.
And on the flipside, should governments/countries have qualifications for valid ico's.

dunfida

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Quote from: veleten on October 22, 2017, 07:29:48 AM

no,they don't at the moment
that was on of the reasons for the China's ICO ban
there were no rules regulating them ,so the goverment decided to ban it altogether to prevent capital flight from the country
but seeing the boom of the ICOs and the ever growing number of people involved in it
goverments will be forced to do something about it,regulating,banning etc. since there are too many scam ICOs out there

This is why they do really do propose such thing and China did able to make the first step which it did able to spark up the possibilities for ICO to be regulated in able for them to control specially on the funds of those investors came from their country.They cant stop the funds flowing out because investors do tend to invest on those ICO back in the past they do really saw on what would be the effects if this thing would still go further. Licensing would really have some advantages for those people who do really love the legality and yet it is somehow give assurance when it comes to security.

Topic: Do ICO's need licenses? - page 3. (Read 3083 times)