Regulations are required for ICO & Bounties

[Hunnykaushal31]

Hello Everyone,

I see that there are lot of ICO's happens in 2018 and many of them don't even have real use case or we can say product.

There were many ICO's which were scam and they collect money and run away. There were some bounty campaigns where people promote their ICO's and never get their bounty tokens.

So as per me we need proper Regulations/Laws to conduct ICO. This will eliminate scammers to start ICO and will protect investors. There must be a committee where team will first submit their project detail and if committee will approve it then they can start with ICO process. Committee members will verify each and every member of team. This will help investors a lot.

We need proper regulations for Bounty campaigns too as it hurts a lot of people when they don't get paid for their bounty work.

Let us see what regulations we can see in 2019 or do suggest your views in reply below.

Looking forward to hear from you people.

Thank you

[Argoo]

Of course, the situation with the regulation of ICO activities is already long overdue and it needed to be addressed several years ago. Fraud among ICO projects has reached a threatening scale and states are simply obliged to intervene and prevent crime. I know that many states are already preparing relevant regulations on this issue and I hope that in 2019 we will see many examples of regulating the activities of ICO.
A separate issue in this regulation is not only the protection of the rights of investors, but also of other participants in the bounty campaigns ICO. Now the ICO teams simply dictate their terms to us, therefore the rights and obligations of the parties in this case should also be settled.

[knuckey]

The rules and committees that you mean will make crypto no longer decentralized and I think it will be centralized, all that is inversely proportional to the main objectives of decentralized crypto.

We all know all people are greedy for wealth and this is a gap to become a fertile ground for cheating and bribery, making various ways to make their projects pass.

[Spaffin]

We are all tired of such a large number of frauds that are now among ICO projects. This activity has long been necessary to regulate and now countries such as Japan, Russia, Germany, France, Australia are preparing their own rules governing the activities of the ICO. I can not say for other prepared rules, but I liked the ones that exist in Russia. If they take action, it is unlikely there will be at least one fraud. It provides for all collections of funds through banks, and regulatory authorities will control even the targeted use of the collected funds.

[jossiel]

Leave this job to SEC. They are the one that "committee" you need to address first and they won't address the bounty thing but the project itself. Once the project is verified and confirmed by them, I'm sure that they will follow all the regulations and they won't scam even their bounty participants.

Crypto's are decentralized except those centralized, a gov't would step in to it just for the transactions and verification but including the bounties. I don't think they can do something with it if an unregistered project scams their participants.

[Herbert2020]

no they are not required because they will not be able to change anything. the whole market is unregulated and people want it to stay that way. both the scammers because they want to scam freely and the investors because they don't want the government snoop around in their financial matters and take taxes or worse.

not to mention that it is all about profit and sometimes the scammiest projects are most profitable if they have a good pumping team (pumping is illegal hence lack of regulations) and people tend to want pump and dumps for profit making otherwise the market is useless without them...

[Peacemaker1994]

I would very much welcome a regulation on initial coin offering and bounty projects the easy at which scams ate carried out all in the name of ico and bounties is a cause of worry and discouraging many from getting in and encouraging more scammers to come in

[shinratensei_]

The rules and committees that you mean will make crypto no longer decentralized and I think it will be centralized, all that is inversely proportional to the main objectives of decentralized crypto.

We all know all people are greedy for wealth and this is a gap to become a fertile ground for cheating and bribery, making various ways to make their projects pass.

The regulation will take control over all of icos and this will created centralized ecosystem. We don't need a very strict regulation to give a lot of limitation to the developers. Just try to make sure that will be registered on the institutional and verified by regulators to make sure that was not a scam ico is enough for me personally.

[qiman]

I would prefer if we were paid out in ETH, BTC, or other stablecoins when we do a bounty,. As they receive funds, then give us a portion of the funds they receive and then it is up to us if we wish to purchase their tokens or not. Sometimes we are given totally worthless tokens also that do not even reach an exchange at best, and at worse we do not get paid at all. So why should we waste our time just to get scammed? I would like to see more projects paying out in real cryptos that have a value right now.

[cryptogeek101]

Hello Everyone,

I see that there are lot of ICO's happens in 2018 and many of them don't even have real use case or we can say product.

There were many ICO's which were scam and they collect money and run away. There were some bounty campaigns where people promote their ICO's and never get their bounty tokens.

So as per me we need proper Regulations/Laws to conduct ICO. This will eliminate scammers to start ICO and will protect investors. There must be a committee where team will first submit their project detail and if committee will approve it then they can start with ICO process. Committee members will verify each and every member of team. This will help investors a lot.

We need proper regulations for Bounty campaigns too as it hurts a lot of people when they don't get paid for their bounty work.

Let us see what regulations we can see in 2019 or do suggest your views in reply below.

Looking forward to hear from you people.

Thank you

I think regulations for ICO and bounty campaigns are quite necessary so to protect the cryptocurrency space from fraudulent activities,however government regulations should be done with caution so as not to kill our vision of decentralization

[BitcoinHodler]

but regulations can also bring in a lot more manipulation from the big players that have a lot of experience in bigger markets and how to manipulate them.
if you think pump and dump of altcoins were bad so far, wait until you see some big players enter and really dump the altcoins on you and make you lose a lot of money.