United States Congressman representing the State of Ohio, Warren Davidson recently announced that some of big companies and organizations in the field of cryptocurrencies will be invited for a major discussion on the topic of regulations in Initial Coin Offerings (ICO). According to the US official, 32 leaders from the cryptocurrency space including Ripple, Harbor, CME Group, Circle, Coin Centre, NASDAQ, Intercontinental Exchange (ICE), Kraken and Union Square Ventures, will be officially invited to take part in the important discussion.
The official source also confirmed that the major and the very important meeting for the industry will be held on September 28, 2018 at Capitol Hill. In addition, Congressman’s office is reported to be sharing updates on the further plans of the United States government on the development of regulations in the field. New strategies and approaches of the government to the market will reportedly be furtherly discussed in the general meeting with the invited field experts and leaders.
Earlier this year in June, Davidson gave another interview where he talked about the importance of development of regulations and categorizing cryptocurrencies in general. “The lack of a regulatory framework for ICOs has made the market risky and unsafe. This could lead to a lot of fraudulent ICOs exploring investors… If all the ICO companies implement Know Your Customer (KYC) policy and Anti Money Laundering policy then there would be a decrease of scammers in the market”, stated the Congressman back in June.
In addition, Davidson highlighted that due to the general nature of cryptocurrencies and lack of appropriate regulations in the field, the industry becomes a favorable environment for criminals. Meanwhile, he stated that “cryptocurrency assets are still more traceable when compared to cash”.