European Securities Regulator to Report on ICO Rules by 2019

ESMA intends to report on how it may regulate ICOs by the end of 2018, chair Steven Maijoor told a European Parliament committee.

AccessTimeIconOct 8, 2018 at 7:30 p.m. UTC
Updated Aug 18, 2021 at 10:00 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

European regulators are determining whether to regulate initial coin offerings (ICOs) as securities sales on a case-by-case basis, Reuters reported Monday.

European Securities and Markets Authority (ESMA) chair Steven Maijoor told the European Parliament economic affairs committee that some ICOs resemble financial instruments, which would place them within a specific regulatory framework. However, the regulator is still analyzing how best to regulate ICOs which do not fall within that bucket.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • He told the committee:

    "The subsequent question is what do we do with those ICOs that are outside the regulatory world. We will assess that as a board. We expect to report by the end of the year."

    The news comes less than a week after ESMA revealed it was budgeting more than €1 million to monitor cryptocurrencies and other fintech activities next year.

    As previously reported, the agency's 2019 Annual Work Programme set aside €1.1 million for activities revolving around financial innovation, including crypto assets.

    At the time, the document stated that ESMA's objective over the upcoming year was to "achieve a coordinated approach to the regulation and supervisory treatment of new or innovative financial activities."

    Moreover, the regulator intends to compile advice for EU institutions, market participants and general consumers, though it did not provide any specifics.

    EU flags image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.