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Title: Germany's Securities Regulator Warns ICOs Pose 'Numerous Risks' Post by: BitcoinArsenal on November 09, 2017, 10:44:15 PM Germany's top finance regulator has issued an investor warning on initial coin offerings (ICOs), becoming the latest markets watchdog to comment on the blockchain use case.
The Federal Financial Supervisory Authority (BaFin) said today that investors should be wary of the "numerous risks" involved in token sales, including "the possibility of losing their investment completely." The agency added that the funding model – through which blockchain-based tokens can be sold and distributed in an effort to bootstrap a new network – is "attracting fraudsters" who may misrepresent their efforts to prospective backers. WERBUNG BaFin stated in the release: Quote "Due to the lack of legal requirements and transparency rules, the consumer is left on their own when it comes to verifying the identity, reputability and credit standing of the token provider and understanding and assessing the investment on offer. It can also not be guaranteed that personal data will be protected in accordance with German standards." Title: Re: Germany's Securities Regulator Warns ICOs Pose 'Numerous Risks' Post by: shinratensei_ on November 09, 2017, 11:06:15 PM All about the regulation, But these day people have become smart. As you can see only the promising project just like eidoo got a lot of supporters and trust from the investors. Some people will try to do the more analyzation and try to publish it to get the feedback from the community.
The government was realizing about truth a lot of their money was disappearing in the ico. That will be decreasing their income. A lot of countries already said the same thing with Germany's regulators. Title: Re: Germany's Securities Regulator Warns ICOs Pose 'Numerous Risks' Post by: joinfree on November 10, 2017, 02:35:06 AM Another fud would not impress me anymore, we have seen this before and this has been discussed, those Germans from the government are always trying to fix up the things but in fact, they are only ruining them.
It is obviously that a lot of countries will start to say much more fud of bitcoin because that is what they are supposed to do, they have the power of the banks, and they can not broke because of bitcoin. But maybe they are right with that, those who join bitcoins, must agree to the risks that all this thing involves. Title: Re: Germany's Securities Regulator Warns ICOs Pose 'Numerous Risks' Post by: davis196 on November 10, 2017, 06:27:56 AM Another fud would not impress me anymore, we have seen this before and this has been discussed, those Germans from the government are always trying to fix up the things but in fact, they are only ruining them. It is obviously that a lot of countries will start to say much more fud of bitcoin because that is what they are supposed to do, they have the power of the banks, and they can not broke because of bitcoin. But maybe they are right with that, those who join bitcoins, must agree to the risks that all this thing involves. I don`t think that this is FUD,it`s just a warning.Some investors don`t even know what an ICO is and think that ICOs are regulated.There`s risk involved in every investment.People can lose their money completely ,if they buy some stocks of some shady companies or make a deposit in some bank that bankrupts. ICOs are no different than that. |