Good Governance in DLT and ICOs | Crypto Lawyer

Posted on December 8, 2017 by Jeremy Barnett

As Bitcoin flys through the $15,000 barrier, and the ICO market develops into a feeding frenzy, regulators around the world act like rabbits caught in the headlights as they struggle to encourage innovation but still protect investors and the public from losing their money in unregulated schemes. 

In the absence of guidance from the FCA or SEC on the conduct of ICOs, a group of UK experts have come together and published the London Token Fundraising Initiative which sets out the principles of good governance that shoudld be followed by promoters of ICOs.

One shinning example however is Gibratlar who have set themsevles up as the global centre for this new tech. In October the Government published the Financial Services (Distributed Ledger Technology Providers) Regulations 2017 together with a corresponding Bill for an Act to amend the current legislation. The new regulations are due to come into force in 2018 and are designed to provide an efficient pragmatic and safe framework for firms engaged in Distributed Ledger Technology based businesses such as Bitcoin exchanges. 

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