bitcoin Bitcoin
ethereum Ethereum
polkadot Polkadot
utopia Crypton
Show details
Token Alliance Sets Out Detailed ICO and Cryptocurrency Guidelines

Token Alliance Sets out Detailed ICO and Cryptocurrency Guidelines

Reading Time: 2 minutes by on August 1, 2018 Altcoins, Bitcoin, Blockchain, News, Regulation
Follow by Email

The Chamber of Digital Commerce and Token Alliance have released the first set of comprehensive guidelines for digital token and ICOs. Titled “Understanding Digital Tokens: Market Overviews & Guidelines for Policymakers & Practitioners,” the report was released on July 30, 2018, and is now available for public review.

Guidelines Objective

The guidelines aim to strike a perfect balance between innovation in technology and the protection of investors rights. This will set the stage for policymakers and practitioners to control the token environment in a far more structured way.

The crypto industry has been going through exponential growth since 2016. As per reports, in 2017, start-ups have mobilized nearly $4 billion, up from $100 million in 2016. This clearly establishes the growth of token issue and the need for clear guidelines to protect investors interests and market integrity. Unlike other sectors, digital tokens and ICOs are not well regulated, and it is of paramount importance to ensure consistency in operations across countries for substantial benefits.

Paul Atkins, CEO of Patomak Global Partners and former SEC Commissioner, commented :

“These industry-developed principles are an important tool for responsible growth and smart regulation that strikes the right balance between protecting investors while allowing for innovation in this new technological frontier.”

Three Striking Features

Regulatory Overview: A comprehensive understanding of the regulatory environment and securities laws related to digital tokens which are prevalent in the United States, Canada, Australia, United Kingdom and Gibraltar. A one-stop shop for easy reference and better understanding.

Principles and Guidelines for Utility Tokens: Industry developed principles for token sponsors and trading platforms to promote sound business practices and minimize unintentional regulatory risk.

Token Economic Landscape: An in-depth look into the growth and evolution of the global token landscape, with economic data and statistics.

Token Alliance

The Token Alliance is a wing of Chamber of Digital Commerce (CDC) which deals with the token issue and its regulatory measures. Their primary objective is defined as “Fostering Best Practices And Frameworks For The Responsible Issuance Of Tokens.” Token Alliance provides help in developing legal actions while adopting innovative technologies.

This group is formed by the Chamber of Digital Commerce with 350 global participants. The global participants include the experts from fields of technologists, economists, blockchain and token experts, regulators and practitioners from more than 20 firms.

The members of Token Alliance have put considerable efforts to frame the guidelines, and this report is considered as an essential tool to educate the policymakers on token issues and a “Positive and Proactive” towards regulations governing tokens market.

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4
Join our telegram channel