UAE Securities and Commodities Authority Greenlights ICO Regulation

 UAE Securities and Commodities Authority Greenlights ICO Regulation UAE Securities and Commodities Authority Greenlights ICO Regulation

The United Arab Emirates’ Securities and Commodities Authority (SCA) just gave the green light to a plan that would rein in ICOs and classify them as securities, according to a report penned by Forbes.

“In light of the rapid development of the digital tokens market and the response thereto by the regulators in a number of countries worldwide towards regulating the initial coin offerings (ICOs), the SCA Board of Directors has approved the SCA plan to regulate the ICOs and recognize them as securities,” a statement by the organization said.

This wasn’t much of a surprise, as the SCA had warned investors earlier this year about ICOs, citing a lack of protection mechanisms as one of its concerns.

“ICO inform…

This article appeared first on Cryptovest

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