Insider.pro presents a column dedicated to ICO’s, one of the most important subjects of the blockchain era, relevant to both startups and regulators since it it now a firm part of the modern crypto business. Every week we will report on the main news, ICO basics, expert reviews, new projects in the Calendar and best and worst ICOs as per our unique Rating.
European Parliament develops terms and conditions for ICO in EU
So-called "Fox rules" will make ICO‘s transparent and allow new projects to enter a much broader market. For the first time these terms were considered on September, 4. They involve clear rules for those who conduct ICO campaigns in EU. The author proposed to limit token sale to just 8 million euros, as well as applying the Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to all prospective investors. A week after the first discussion, European lawmakers met again and proposed some changes and improvements like an increased token sale limit of 10 million euros. Voting on the unified rules for ICO procedures will be held in November, and by the beginning of December a final decision will be made during a plenary session.
UAE approves ICO regulations
New regulations were passed despite a warning from last February, when the country’s financial regulator warned ICO investors of high risks. SCA noted that ICOs were highly speculative, with prices extremely volatile. The Minister of Economy Sultan bin Saeed Al Mansouri said that after research and study of international best practices the watchdog is planning to recognize ICOs as securities. The new law amendments will be implemented once they get published in UAE’s Official Gazette.
Bank of Russia has conducted an experimental ICO
Bank of Russia has conducted an experimental ICO in a so-called "sandbox". Technically, the process was successful, Previously Sberbank, the largest bank in Russia, together with the National Settlement Depository planned to organize an ICO test. Also, Sberbank expressed its desire to test innovative blockchain technologies for VIP-clients.
U.S. Federal Court equates ICOs to issuing securities
The ruling was made as part of Maksim Zaslavskiy's case being proved as fraudulent. The Judge Raymond Dearie agreed with the prosecution that the case remains to be considered by the jury, and if they agree with this verdict, it will become a precedent for the future.
France Adopts ICO Laws
French regulator AMF (Financial Market Management) has obtained new ability to govern ICO’s and issue permits to businesses that are planning to hold them in France. The permission can be received only after the check of full information of the project, which should include guarantees for investors.
Main texts by Insider.pro that everyone should read to study the ICO sphere:
Review of the week
Next Week ICOs
Insider.pro has developed a unique rating system to rate ICO projects, which takes into account all aspects starting with the official website, upto the token platform itself. Here are the best and worst ICO projects according to the rating.
Top-5 Best ICOs
★★★★ 4,40 - Cryptyk
★★★★ 4,36 - Ubex
★★★★ 4,28 - Planport
★★★★ 4,08 - PavoCoin
★★★★ 4,06 - genEOS
Top-5 Worst ICOs
★ 1,34 - FiveStarMiningNetwork
★ 1,61 - Ardent United
★ 1,64 - Neogame
★ 1,68 - IViN
★ 1,74 - CustomCoin
Also take a look at our chart of the day, which demonstrates a rather interesting statistics regarding ICO funding over the last 16 months.
Don’t forget to click here for the full list of ongoing ICOs and Rating.