Waves creates a self-regulatory organization (SRO) to develop standards in the field reporting, law, taxation and accounting procedures of client identification and verification business for the initial placement of tokens (ICO) and the industry of the blockchain.
The organization will be created as an Association whose members will cooperate with the representatives of cripture, marketing companies, platform, ICO, and companies providing professional services.
«Regulation is a new phenomenon and problem in Cryptoprotected. If some jurisdictions have not yet announced their intentions, it is only a matter of time. We understand that regulation is the right regulation is necessary to Cryptoprotected, and want to be part of this. Our approach will provide an opportunity to determine the future of regulation in the space of ICO and blockchain», – said General Director and founder of Waves Alexander Ivanov.
The organization will work with the ICO management Fund (IGF) and other professional funds for the coordination of cross-platform discovery protocols ICO.
«Platform Waves plays a leading role in working with IGF – said the founder of the Foundation for management ICO Miko Matsumura. – It broadens the scope of what it means to be a platform for creating tokens».
Leading market players and consultants, including Deloitte CIS, ICO Foundation Governance, the competence Center Ethereum has already announced its support of the Association.
«Tokenization of Economics and fundraiser-based cryptocurrency is one of the key trends this year and will remain so for several years. The lack of best practices and standards is a serious obstacle for further expansion of these tools, which creates risks both for investors and for issuers. We support the goals of the proposed organization, and we believe that this infrastructure is vital at this stage of market development ICO», – considers the head of group legal services to technology projects at Deloitte Artem Tolkachev.
«Cooperative and voluntary initiatives such as the creation of a self-regulatory organization for the sale of tokens is an important element in the professionalization of the industry blockchain technology required to create functionality and preserve the security ecosystem,» – said the head of competence Center Ethereum Vladislav Martynov.
Over the next two months the Waves will register the Association in Switzerland, to create their own Executive bodies and to release the proposed industry standards. This process is planned to be completed in early 2018.