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The European Union can legalize ICO

The group of the European Parliament discussed the issue of legalization of ICO, as well as possible standards for its conduct. According to information from the CoinDesk portal, proposals were received to limit the sale of tokens by 8 million euros, introduce customer identification and comply with antimoney laundering rules.

The meeting also noted that the common position of the European Union regarding crypto currency and tokens, among other things, has not changed. According to the regulator, these assets are not securities, and their existence does not create any significant risks for the financial system of a unified Europe.

During the interview, the managing director of France Digitale, Nicolas Brien, said that for the full operation of the ICO market, regulation is necessary. According to him, at the moment no British bank cooperates with crypto-currency companies.

In fact, I welcome this proposal at the European level, as it gives people confidence. I believe we should clearly clarify which tokens are utilitarian, and which are the securities to be transferred, and how the regulator should look at all of this. I think all this should be done, because ICO is one of the forms of crowdfinding. Brien said.

Specific decisions regarding the legalization of ICO at the meeting were not made, but before September 11, members of the European Parliament can make their suggestions and comments. They will be considered at the next meeting. If the innovations will adopted, it will open for legal projects to legally attract financing throughout the Eurozone.

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