European Financial Watchdog Warns Investors Against ICOs

The latest warning on initial coin offerings (ICOs) comes from the European Securities and Markets Authority

An ICO is a new way of raising money, using so-called coins or tokens and can also be called an initial token offering or token sale.

Due to the rapid growth in ICOs globally and in Europe, the regulator said it is concerned that investors may be unaware of the high risks that they are taking when investing in ICOs.

The markets watchdog's second statement stressed that startups or open-source projects involved in ICOs are at risk of conducting regulated investment activities without observing applicable European Union legislation, including its prospectus directive, the fourth anti-money laundering directive and other laws.

The financial watchdog warned investors of extreme volatility in the price of the tokens and that investors may not be able to redeem them for a prolonged period.

If such operations fall outside of European Union rules and regulations, investors also can not benefit from legal protection if the investment goes sour, it said.

Judgement reserved in Imran Khan's disqualification case
Earlier, it was observed by CJP that PTI Chairperson Imran Khan declared his London flat but not the offshore company. Akram Sheikh, the lawyer representing Abbasi, claimed that the the PTI chief had changed his stance 18 times.

'One Tree Hill' cast, crew, publish open letter about showrunner Mark Schwahn
Hear! Hear! Chad Michael Murray and James Lafferty have also weighed in on this scandal. I know he did more but not to me so they're not my stories to share", she wrote.

Israel issues strong warning against Hamas and Islamic Jihad
A total of 14 terrorists were killed in the aftermath of the tunnel collapse, including two senior Islamic Jihad field commanders.

Owing to instances of fraud, scams, and hacks, the status of ICOs remains uncertain, and the crowd funding mechanism has been the target of increased scrutiny by regulatory bodies around the world.

ESMA stresses that firms involved in ICOs should give careful consideration as to whether their activities constitute regulated activities.

Authorities in countries such as the United States, Canada, Sweden, Switzerland, Germany, and New Zealand have issued warnings for investors who are considering putting their money in ICOs.

This move by the FCA and ESMA follows a decision by the People's Bank of China in September which made the use of ICOs illegal.

Related:

  • Institutional Investors Lead Shift in Callon Petroleum Co (NYSE:CPE) Sentiment

    The firm earned "Hold" rating on Thursday, August 6 by Zacks. $15.33's average target is 37.37% above currents $11.16 stock price. The institutional investors in our partner's database reported: 229.70 million shares, up from 223.13 million shares in 2017Q1.
    Memphis Grizzlies vs Milwaukee Bucks: Lineups, preview and prediction 11/13/17

    Memphis Grizzlies vs Milwaukee Bucks: Lineups, preview and prediction 11/13/17

    Henson added six of his nine rebounds and one of his two blocked shots in the fourth quarter. Tyreke Evans paced the Grizzlies with 27 points off the bench as they fell to 7-6.
    'Disappointed' Hardik Pandya quashes rumours about quitting Mumbai Indians

    'Disappointed' Hardik Pandya quashes rumours about quitting Mumbai Indians

    You need to understand that some things are bad. "I have learned from both of them, they are wonderful ". On the other hand, Bhuvneshwar and Pandya have been in top form in the recent days concluded series.
  • Davido wins another big award at the 2017 MTV EMA

    Davido wins another big award at the 2017 MTV EMA

    Wizkid reacted deep, with four frog emojis on Snapchat and Twitter while hailing his fans as militants. The artiste mocked the AFRIMA Awards, saying the one he collected previous year has peeled off.
    Vidya Balan shocked over question about her weight

    Vidya Balan shocked over question about her weight

    To which the shocked actress replied, "What does weight loss have to do with woman-centric roles?" I'm quite head-strong. The trailer has already left the audience wanting to see more of Vidya's antics.
    Pokemon GO Adds Alola Outfits to Celebrate Ultra Sun & Ultra Moon

    Pokemon GO Adds Alola Outfits to Celebrate Ultra Sun & Ultra Moon

    For a wider look at what critics think of Pokemon Ultra Sun and Ultra Moon , be sure to visit GameSpot sister site Metacritic . The Pokémon world is constantly changing and filling up with more and more surprises at every turn.
  • Liverpool 'win race to sign Leon Goretzka'

    Liverpool 'win race to sign Leon Goretzka'

    According to Don Balon, via the Daily Star , Liverpool have reached an agreement to sign Goretzka when the next transfer window opens.
    Cowboys LB Sean Lee likely out for next three games, report says

    Cowboys LB Sean Lee likely out for next three games, report says

    In the receiving end, Jason Witten posted 59 yards in seven receptions while Dez Bryant added 39 yards in four catches. A well-timed week off has done the Philadelphia Eagles a world of good. "To say the least, I'm concerned about that".
    Fans left shocked by Khloe Kardashian's 'new face'

    Fans left shocked by Khloe Kardashian's 'new face'

    Meanwhile, Kim Kardashian West has publicly confirmed she's expecting her third child with Kanye West via surrogate next month. Khloe Kardashian is yet to confirm whether or not she is expecting her first child , but some fans think they know the truth.
  • III Apparel Group, Ltd. (GIII) Analysts See $1.53 EPS

    D-E Shaw & Company Inc decreased Berkley W R Corp (NYSE:WRB) stake by 76,961 shares to 9,604 valued at $664,000 in 2017Q2. September 7 investment analysts at Buckingham Research left the company rating at "Buy" projecting a price of $35.00.
    Bangladesh U-19 reach Asia Cup semis after defeating India

    Bangladesh U-19 reach Asia Cup semis after defeating India

    The Bangladesh batsmen performed just the opposite of Indians and chased down the target with four overs remaining. Pakistan and Afghanistan are the other two teams to reach semi-final from Group B.
    India's export drops; trade deficit widened to $14 billion in October

    India's export drops; trade deficit widened to $14 billion in October

    In October, petroleum, engineering and chemicals exports grew by 14.74 per cent, 11.77 per cent and 22.29 per cent, respectively. Trade deficit increased to $3.04 billion in October 2017, higher by 35.88 percent over $2.2 billion for the same a year before.

Comments

Latest news

Black Friday and Cyber Monday
Never met a sale you didn't ♥? Oftentimes they're only available for select hours or they're available in very limited quantities. More than half of Argos sales originate online and around 120 million customer transactions take place in stores each year.

Officer shoots, kills man at apartment complex
I ask that the community withhold judgement on this incident until the LSP concludes its work. Broome also released a statement Monday night in response to the shooting.

Amc Entertainment Holdings Inc (AMC) - Wedbush Reiterates Rating
Stoneridge Inv Prtn Ltd Liability Com holds 0.13% of its portfolio in AMC Entertainment Holdings Inc (NYSE:AMC) for 38,485 shares. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Jerry Jones says he's not backing off on Goodell extension
Dallas Cowboys owner Jerry Jones shot down a report Tuesday that suggested National Football League owners could band together in an effort to force his forfeiture of the Cowboys franchise.

Senate approves Buhari's $5.5bn foreign loan request
This Senate is known to be working together for the benefit of all Nigerians. An appropriation act is useless if it is not implemented.

$5.21 Billion in Sales Expected for Southwest Airlines Company (LUV) This Quarter
The airline reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.01. The stock has a market cap of $31,740.30, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.31.

Whitefish Energy Charged $319 An Hour To Fix Puerto Rico's Busted Grid
Whitefish CEO Andy Techmanski took to Morning Consult Tuesday to hit back against criticisms of the company and defend its work. Basically, for $200 million, Cobra has been contracted to design and build a new electric grid for Puerto Rico in four months.

Top Pak Army man says India sabotaging CPEC
He accused India of stoking "chaos and anarchy" in the region, Pakistan's state-run APP news agency reported. Moreover, the general said, havens of terrorists on the Afghan soil were also a matter of grave concern.

What's in Air Products & Chemicals, Inc. (APD) After Touching Record High?
The basic materials company reported $1.76 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.68 by $0.08. Farmers & Merchants Investments Inc. boosted its holdings in shares of Air Products and Chemicals by 0.8% in the 3rd quarter.

Koike resigns as leader of Hope party to focus on being governor
After stepping down, Koike is expected to concentrate on her duties as governor of the capital. The bubble burst when she fumbled a merger with the then-main opposition Democratic Party.

Sun Pharma Q2 net plunges 59% at Rs 912 cr
However, that was better than the INR8.27 billion estimated by analysts polled by Thomson Reuters . For the quarter, 4 ANDAs were filed and 3 approvals were received.

England coach Jones sorry for Argentina outburst
Jones is managing the pair's game time at the end of a busy year for club (Saracens), country and the British and Irish Lions. England's Lydia Thompson was among the nominees for the women's award.

Didier Drogba announces the date of his retirement
The Chelsea legend - now at United Soccer League side Phoenix Rising - says he will hang up his boots at the end of the season. When speaking to RMC Sport , Drogba revealed that next season will likely be his last.

Fans react to Lord of the Rings TV show announcement
That was a winning formula for attracting Hollywood talent, awards and buzz, though not Prime subscribers around the world. It's important to note that it won't follow the events of the Lords of the Rings , but rather it is based on J.R.R.

Two New Zealanders on World Rugby women's Player of the Year shortlist
Free-scoring fullback Folau recorded 12 tries for the Wallabies in 10 Tests, failing to cross the line in only two matches. Compatriot Richie McCaw is the only player to win the award in successive years, which he did in 2009 and 2010.

Other news