Call for Rule-making on ICO Proposal by Japan’s Academia
Based on a shared awareness of necessity, financial institutions, non-financial companies, and venture companies have co-founded the ICO Business Research Group in Japan. Research Group established the rules that may be set to enable ICO to obtain public trust and to expand as a sound and reliable financing method.
Research Group defined terms as follows:
- Token : A unit of value which is electronically issued by an issuer to an investor in exchange for payment of cryptocurrency.
- Listing : An act of including a token in the list of tokens that can be traded at a cryptocurrency exchange.
- Preliminary sales : An act of issuing tokens to investors before they are listed.
This report recommended essential solutions such as restricting insider trading, enhancing cybersecurity and identifying industry investors to check money laundering.
New York Attorney General Reports that Crypto Exchanges are Ripe for ManipulationRead More
Cryptocurrency exchanges are vulnerable to market manipulation and lack standard consumer protections reports the investigation by the New York State Attorney General's office.
FINRA Has Taken Its First Crypto Disciplinary ActionRead More
The U.S. Financial Industry Regulatory Authority (FINRA) has issued its first crypto-related disciplinary action. On 11th of September FINRA filed a complaint against Timothy Tilton Ayre of Agawam, Massachusetts. He was charging with securities fraud and the unlawful distribution of an unregistered cryptocurrency security called Hempcoin.
South Korean Banks to Limit Services for Crypto Traders without Identity VerificationRead More
South Korean banks are reportedly implementing new measures for crypto traders. They are going to limit the services offered to cryptocurrency traders and investors without identity verification, Korea local news report.