- Posted by Mark Daley
- On 5 November 18
- BIS, Cryptocurrencies, ESMA, ICO, MIFID, Prospectus, Securities
Friday’s Report on ICOs and crypto-assets by ESMA’s bashful “Securities and Markets Stakeholder Group” echoes what the BIS had to say back in June (reported on FinBrief) – 78% of ICOs have been scams, there’s a lot of fraud and money-laundering, etc. and so on. There is a possibly-useful decision tree designed to identify whether an offering of tokens falls within MIFID, the Prospectus Regulation and the Market Abuse Regulation, and a table gives thumbnail summaries of the local relevant legislation and regulatory initiatives for each EU state and EEA/Switzerland.