The European Securities and Markets Authority (ESMA) is considering the issue of regulating ICO as a sale of securities.
In a speech before the Economic Affairs Committee of the European Parliament, the European Council President Steven Maijoor, mentioned the similarity of tokensales and financial instruments, which operate in accordance with a specific regulatory framework. The regulator still determines how to treat those ICOs which the specified norms of the law do not apply to.
Maijoor commented on the situation as follows:
“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.”
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