ICO Regulation/Warning in GERMANY: Regulation Agencyposta consumer warning

[unibyte]

On Nov 09 the german regulation agency BAFIN posted a warning concerning ICOs titled "Consumer warning: the risks of initial coin offerings".

It does not regulate ICOs in Germany in any way, it is just a warning to potential investors and consumers.

It can be found here: https://www.bafin.de/dok/10185906

A german law firm commented that warning and its meaning:
https://www.anwalt.de/rechtstipps/ico-in-deutschland-bafin-veroeffentlicht-verbraucherwarnung-zu-icos-cllb-rechtsanwaelte-kommentiert_119057.html

[Proxik]

In Holland its the same, but it is for people who have heard of big money makings in the crypto and put their money in ICOS without doing their research. Such people belong to the riskgroup that will lose all of their money because of scams.

It is logically the government warnings these people, its the task of the government to protect the people.

For people who are longer and more experienced with icos, they will recognize scams and do not partipate and can still make a lot of money.

[bobq]

This is interesting, and it will be even more interesting to see if they will make some steps towards regulating it. Germans like the fact of regulating things. If they do, the rest of Europe would follow.

[Marvell1]

It's normal thing to warn investors about potentially danger investments. It would pretty strange if they do not do anything.

[Orsenise]

I think it's good that governments start realizing and mentioning (giving warning) to investors about the potential danger of ICO's. They are not banning them or not allowing projects to operate who undergo that process, they are simply issuing a warning or reminder to all investors who are interested in joining this ICO's that they might eventually lose all the invested money within a matter of a couple of days. Maybe don't even know the dangers involved when you want to invest in a ICO. They can't evaluate the idea, the business plan, the team etc. so its great that you see at least some countries issuing warning, reminding you that "hey it's your money and you might lose it if you do this". I think that's great and I can't wait for more countries other than Germany to start announcing some cautious messages and advices.

[Minor Miner]

Some years ago governments did not even notice cryptocurrencies. But now they are threatened cryptos and ICOs. I suppose the worldwide regulation of ICOs will occur pretty soon.

[scaramanga1337]

i think its the right decision, crypto and particular ico's are hyped everywhere and getting more popular & public, the regulation warns the public/newcomers and especially the people who are'nt already familiar with this world  to invest without being right informed about the possible risks...

[vltnqefi]

It appears that the financing channel of the ICO has already become a problem in Europe.I think it's because it's easy to finance through ICO, so it's going to be easier to defraud, and I think it's going to be regulated.

[redhondaxrm125]

This is interesting, and it will be even more interesting to see if they will make some steps towards regulating it. Germans like the fact of regulating things. If they do, the rest of Europe would follow.

You're actually right aboutt that. It really is interesting. Although it may be both good and bad, i think having ICOs that are not regulated is better. Yes, there may be scams, but any sane person can always differentiate the legitimate projects from the scams. I sure don't want a bunch of ICOs being regulated and following orders like pets. Devs having freesom of doing their plans make their projects better amd more interesting. If this gets regulated, then the actions will be limited. And so with the improvemen and potential of any project.
Just sayin.