ICO Regulation – A US Congressman Invited Ripple, NASDAQ, And ICE For A Discussion
Warren Davidson, a US Congressman representing the Ohio State, admitted during an interview with Axios that he invited Ripple, NASDAQ, and ICE, three of the biggest players in the cryptocurrency market, among others, to debate ICO regulation.
According to Mr. Davidson, the meeting would also be honored with the presence of 32 leaders in the crypto industry, including Kraken, Harbor, CME Group, Circle, Coin Centre, and Union Square Ventures.
The meeting, which is scheduled for September 25th, 2018, at Capitol Hill, would take place in the same time frame as the SEC’s decision on the Bitcoin (BTC) ETF and would gather together crypto-related entities from venture capital firms to cryptocurrency trading platforms.
US Congressman Warren Davidson thinks ICO regulation is mandatory
In an interview held in June, the US Congressman Warren Davidson claimed that ICOs require light rules and also discussed the significance of categorizing cryptocurrency giving Ethereum (ETH) as an example as it has been cataloged as a commodity instead of security.
Warren Davidson believes that the lack of an optimized regulatory framework surrounding ICOs is the culprit for the unsafe and high risky cryptocurrencies market of today. He also added that, if not regulated, ICOs will still be fraudulent, so implementing KYC (Know Your Customer) and AML (Anti Money Laundering) policies would decrease the activity of the scammers.
US Congressman Warren Davidson added that cryptocurrencies are more exposed to scammers and cyber attacks in comparison to fiat money and conventional banking systems because of the lack of a central authority that controls them, so, instead of that, a regulatory framework is needed. Mr. Davidson has also said that cryptocurrency holders are not trackable, which, ironically, is not entirely accurate as the crypto holders could be, in fact, more traceable than fiat money.
In short, Warren Davidson, a US Congressman for the Ohio State, invited Ripple, NASDAQ, and ICE, among others, to a discussion regarding the development and adoption of an ICO regulation.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.