ICOs not included in upcoming crowdfunding rules

An EU Parliamentary Committee has recommended postponing rules on initial coin offerings (ICOs), which would have formed part of the proposed crowdfunding regulation. The proposed legislation would have partly regulated ICOs for the first time in the EU.

The European Parliament’s Economic and Monetary Affairs Committee has approved the latest draft of the regulation on crowdfunding service providers for business, but suggested that separate EU-wide legislation may be needed for ICOs.

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