Topic: DO WE NEED TO REGULATE ICOs? - page 24. (Read 24761 times)

no because first of all regulating ICOs will not solve anything, there will still be scammy ICOs that will continue to scam you. and also because this whole market is unregulated and mostly decentralized and people want it to remain that way, regulations require centralizing the market and that will never happen because of how cryptocurrencies work.

what we need is education! we need to inform everyone in the scene how ICOs work and to help them understand that they shouldn't just hand over their money to an ICO just because they hope for some profit.

there are several platforms that take care of legal licenses after the ICO ends one of which is SprintX, and even there are platform that has been launched but apparently does not have a legal license from the relevant institution (Centra Card) how can this happen? it seems now we really need ICO regulation to protect investor funds from scam projects

Maybe we could find some alternative option rather be under a centralized organization. I'm not in favored of being regulated, since those people tend to have hidden agenda that might crash the crypto space.

Of course you need! Then scam will be less. Yes, half the ICO will not even begin... Need legal liability

Well who can regulate decentralized projects, no one can. However country wise they can be regulated.

I always believe we must. I agree there would be apprehensions and crypto market doesn't support the regulatory part. But if its in moderation and helps eradicate the flaws and falters, I think we must support it. Legit ICOs will always find a way through to investors and make their place anyways.

There are laws everywhere mate. We have laws both in heaven and hell. We don't need regulations in cryptocurrency but then came all this scam projects. We have no choice than to allow regulations, or we loose everything to this guys.

Yes. I feel Cryptocurrency should be regulated for the manipulations that is taking place in the name of ICOs. A lot of scams are going on across the globe, especially in the eastern part of the world.

Here is an interesting piece of news from Vietnam about cryptocurrency regulation:

Vietnam authorities are looking to regulate the cryptocurrencies. The Ministry of Justice has found various solutions and the Ministry of Industry and Trade has expressed their opposition to the ban on the import of mining equipment.

Vietnam’s Ministry of Justice has submitted a report to the government in Hanoi which includes a review of the assessment of cryptocurrency-related business activities in the country. The document has also made several proposals about changes they consider as important.

The ministry wants to apply three alternate policies around the world. The first approach is named as “floating” that includes the implementation of regulatory concerns. The second one is called “prohibiting,” and the last one is “legalizing.”

Nguyen Thanh Tu, director of the Department of Civil and Economic Laws shared his opinion on regulating cryptocurrencies in the country. He said that relevant ministries and departments would be developing an appropriate legal framework to govern digital currencies. Thanh Tu thinks that Hanoi should manage the risks and the potential associated with cryptocurrencies. It should also make sure that investors benefit from them.

Authorities in the country have not finalized any decisions on cryptocurrencies yet. The Central Bank of Vietnam has announced that it would not consider cryptocurrencies as a legal tender. Prime Minister Nguyen Xuan Phuc has ordered agencies to draft a legal framework for cryptocurrencies and the industry built around them.

According to the reports, around one percent of Vietnam’s population is using cryptocurrencies currently. The country also has 95 million people who are cryptocurrency enthusiasts. General Department of Vietnam Customs’ statistics shows that in 2017, the country has imported more than 27,000 mining components.

I agree that we need the regulations the ICO has been labelled scammed so many times by the investors, it tainted the crypto reputation and could lead to the banning by some country, by regulate it we can decrease the copy cat ICO and scamming ICO, the regulation can increase the investors trust, so I think regulation can bring positive result for crypto

Definitely Yes, as the crypto is no more decentralized but centralized , once we have ico to raise funds and some people are in care of that funds with full authority to do any thing any time with it , then we are in a centralized and need to be regulate by government to save investors from being scam as most project are scam already and I believe more are still coming with no real use or solution for humanity problem.

The ICO process is already regulated by the SEC if you notice that there are now very many implementations in place that make it possible to track investors and so on, because it can really bring great opportunities.

We don't need regulators just hope the core developers of tokenization platform will put more restriction to create any asset. that will be a very good idea consider they must do various verification before try to create any asset or token. Regulation still can be avoided by them all consider not all of countries are creating regulationo for crypto.

Inconsistent statement, at first you said that we need some regulators but on your follow up thoughts, those regulators aren't perfect so why trust those regulations imposed? I think the crypto industry should stand firm of being decentralized. None regulators can fully implement a system where corruption wouldn't be there to sabotage the market.

I think ICOs really needs to be regulated with some strict rules, because some scammers have used ICOs to scam many investors with it, but if there is regulations, that will reduce some level of scams.

I think the regulations is necessary for an ICO's because a lot of scammers. We must remember that the traditional law system and regulators are imperfect.

We do need regulations for ICOs, it is used to project investors and kill all scammers. ICOs with fully regulated will let investors from all countries to invest in ICO with cryptocurrency and fiat. It helps ICOs to have more investors, they will gain more funds to develop their products.

Not enjoying the Wild West are we? j/k

I have to agree that some oversight is warranted at this point. Many people have been taken advantage of.

Can you say clearer? I feel you want to mention a project. If so, share with everyone to discuss.

Some sort of regulation will certainly control the manipulation which is very much prevalent currently. However, there will be demerits of this as well like this will kill the basic aspect or foundation of crypto where it was free from any control.
The final decision should be made after considering both the positive and negative aspects. Personally, I would like to leave it the way it is and let the market decside growth and prices.

Well i say yes! Currently there are so many projects with similar goals and visions and some of them even don't have the needed capacity and resources to see to the success of the project but yet still competes with the capable funds when funds are being raised. This has also increased the number of scam projects in the cryptospace and this is really tarnishing the image of crypto investment. Let's not forget that if men were angels there would be no need for laws. I am not talking of a Centralized Regulating Body but we can use the concept of masternodes and run a decentralized ICO regulating body. Let's explore all the possible ways of how we can actually curb this menace in the cryptospace.