European market regulator to assess each ICO on case-by-case basis

The chair of the European Securities and Markets Authority (ESMA), Steven Maijoor, said that he and his agency would examine how ICOs fit into existing regulation as well as how they impact competition in capital raising. “Some of these ICOs are like a financial instrument. Once it is a financial instrument it comes under a whole regulatory framework,” said Maijoor. To determine whether or not an ICO will fit into the existing framework, the ESMA and other regulators in the EU will assess ICOs case-by-case. It remains unknown how ICOs that do not fit the regulatory framework will be supervised. (Source: Reuters)