According to Reuters, ESMA Chair Steven Maijoor claims that the securities watchdog is taking a closer look at every initial coin offering (ICO) in order to define how to regulate them. They want to determine where ICOs stand from the point of view of existing regulations and what impact they have on the fundraising sector.
Maijoor states that some ICOs can be recognized as securities, but those tokens that do not have a place in the current regulatory world still breed confusion. He states that ESMA will figure out what to do with them by the end of the year after board members complete their assessments.
In September, EU lawmakers backpedalled on their plan to introduce cryptocurrency regulations.
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EU Securities Watchdog Puts Every ICO Under Intense Scrutiny
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