There have been calls from within the ICO community to embrace self-regulation, as a regulatory crackdown in the U.S. looks increasingly imminent.
Speaking at yesterday’s Consensus: Invest hosted by CoinDesk, InputOutput’s Charles Hoskinson warned that enforcement by the Securities and Exchange Commission (“SEC”) was inevitable, and might even occur within the next six months.
However, according to Bloq‘s Matthew Roszak, while SEC enforcement of ICO’s may well be inevitable, self-regulation and policing could significantly lessen the blow:
There is a lot of froth and crappy ICO’s out there. We as a community need to put our best foot forward to say ‘Let’s start thinking about frameworks for best practices and self-regulate ourselves.’
This has certainly been the approach in the Swiss blockchain capital, Zug, where the ICO community boasts successful self-governance through principles such as transparency in vesting.
Whether such principles can be successfully integrated into the US ICO community at this late-stage remains to be seen. For ICO’s in mid-swing, panelists recommended taking steps now to ensure transparency and auditability, including lockups during token sales and proper treasury management.
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