Bitcoin
BTC$61 588.76

3.87%

Ethereum
ETH$3 935.76

4.02%

Binance Coin
BNB$477.91

4.02%

Cardano
ADA$2.23

3.45%

Tether
USDT$0.999808

-0.07%

XRP
XRP$1.16

3.94%

Regulating ICOs: Which Countries are the Worst?


13 May 2019

#Ethereum

ICOs are down and out this year, with total funding raised throughout the year sitting at 150 million. This is less than a single month's worth of funding last year, with the exception of December when the ICO market crumbled into the state it finds itself today.

While there are many reasons for that collapse, the state of regulations in the largest markets were a big reason for it happening. Restricting the supply of ICOs hurt just as much as demand waning from investors being burnt by scams such as "pump and dump schemes" or Ponzi schemes.

Regulation has been improving, slowly but surely, in all corners of the globe. Some countries outright ban ICOs while others take a much milder approach. There are countries that have simple regulations that foster a community and spur on innovation while at the same time there are those countries with laws so complex that they might as well have a blanket ban all cryptocurrencies.

ICOs are also seen as the perfect money-laundering front by many anti-money laundering operations in the world. There are very few regulators that see the positive sides of ICOs and the ongoing campaign by the mainstream media does nothing to help that image.

There are companies that are working on improving this image though. Recently, Harvard invested angel capital in a blockchain based startup that is looking to get its token offering an SEC A+ certification. There is a lot being done on the ground level to improve ICOs but it might be too little too late in the majority of the world.

China leads Asian banning charge


China banning ICOs was major news, not just because it closed one of the largest economies in the world to startups but also because of the caveats. The People's Bank of China stated that any altcoin raised via an ICO was to be refunded... immediately. This crushed a good portion of both the startup base and investor base in a country that is full of crypto community talent. While individuals are still legally allowed to hold altcoins, previous experience says that this might not last too long.

Nepal and Bangladesh followed China in banning ICOs, with Bangladesh specifically citing their 2012 Money Laundering Prevention Act as the main driver of their decision. Pakistan, despite having introduced a digital asset law recently still blocks banks and institutions from using altcoins.

Russia and US compromise with crypto


Two countries that have been coy regarding crypto are Russia and the USA. The USA might have fantastic financial markets and a whole boatload of money but the regulations surrounding cryptocurrency is one of the most difficult to work around. Most of the licensing is done on a state level, and no two states have the exact same rules.

Russia, on the other hand, has heavily controlled the usage of crypto across its massive landmass. They have looked at introducing a digital asset bill that would clarify a lot of things that are currently unknown but there has been a lot of bickering in the Duma.

France has shown that regulation does not need to be too heavy handed. They are forcing banks to open accounts for crypto startups, while also not putting too much of a burden on the average citizen when it comes to buying and dealing with cryptocurrency. It is far from opening up crypto as a payment option, but it has shown a clear path towards a better future.

The Indian government has also taken a two-pronged approach to crypto. While it allows normal people to use it it is generally discouraged. Banks and institutions are strictly prohibited from using any type of altcoin.

Author: Ali Raza for Crypto-Rating.com

Related

Traders pin Ethereum’s route to new ATH to eventual Bitcoin ETF approval
Traders pin Ethereum’s route to new ATH to eventual Bitcoin ETF approval
Ethereum loses key support level as ETH price falls to two-month lows against Bitcoin
Ethereum loses key support level as ETH price falls to two-month lows against Bitcoin
Amount of ETH held by miners reaches highest level since 2016
Amount of ETH held by miners reaches highest level since 2016
Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021
Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021
Ethereum bears look to score on Friday’s $340M weekly ETH options expiry
Ethereum bears look to score on Friday’s $340M weekly ETH options expiry
ETH 2.0 moves closer to fruition as devs set Altair upgrade for October
ETH 2.0 moves closer to fruition as devs set Altair upgrade for October
Second-largest Ethereum mining pool to suspend all operations
Second-largest Ethereum mining pool to suspend all operations
Ethereum alternatives and layer-1 solutions see steady gains in September
Ethereum alternatives and layer-1 solutions see steady gains in September
Ethereum price gets back to $3K as institutional investors pile into ETH futures
Ethereum price gets back to $3K as institutional investors pile into ETH futures

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 66.8% 67 $61 588.76 3.87% 12.21% $1 160 654 808 429 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66% 66 $3 935.76 4.02% 8.99% $464 217 131 709 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 72% 61 $477.91 4.02% 12.77% $80 354 124 867 BNB 7 days price change
4 Cardano (ADA) ADA Cardano predictions 84.8% 27 $2.23 3.45% -1.97% $73 223 941 889 ADA 7 days price change
5 Tether (USDT) USDT Tether predictions 94% 1 $0.999808 -0.07% -0.05% $68 747 855 911 USDT 7 days price change
6 XRP (XRP) XRP XRP predictions 71.6% 56 $1.16 3.94% 6.41% $54 401 475 546 XRP 7 days price change
7 Solana (SOL) SOL Solana predictions 71.6% 55 $162.44 2.24% 1.85% $48 775 462 180 SOL 7 days price change
8 Polkadot (DOT) DOT Polkadot predictions 68.4% 57 $43.27 8.10% 24.77% $42 734 879 170 DOT 7 days price change
9 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $0.999981 -0.03% -0.01% $32 808 075 707 USDC 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 69.2% 59 $0.239602 5.33% -2.96% $31 560 175 921 DOGE 7 days price change
11 UniSwap (UNI) UNI UniSwap predictions 70.8% 57 $26.42 2.81% 3.61% $16 156 779 856 UNI 7 days price change
12 Terra (LUNA) LUNA Terra predictions 69.2% 59 $38.10 3.77% -12.78% $15 312 748 081 LUNA 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 68% 66 $61 590.13 3.85% 12.20% $13 289 021 167 WBTC 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 72.8% 60 $190.95 6.14% 5.63% $13 130 242 173 LTC 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999959 -0.05% -0.02% $13 073 024 181 BUSD 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.