In our post last week, we saw two countries pressing ahead with crytpocurrency plans. Estonia is planning to hold it’s own Initial Coin Offering while Russia announced it’s goal of a digital currency on the blockchain platform.
But not all countries are jumping on the ICO bandwagon.
According to financial magazine Caixin, Chinese regulators are working on new regulations to govern coin offerings and may issue an outright ban on them until the new regulations are finalized.
This more closely tracks the approach that Singapore regulators and the US Securities and Exchange Commission has taken. In July the SEC concluded that certain tokens would constitute securities and therefore be subject to the onerous securities laws requirements.
The battle lines are being drawn. With so much at stake it will fascinating to see how this struggle develop