Six Chinese blockchain industry associations have jointly issued a protocol to better manage and control financial risks for initial coin offering (ICO) in China, in the country's first voluntary framework to regulate the development of one of the hottest areas in financial technology.
Guizhou Blockchain Industry Technology Innovation Alliance, Zhongguancun Blockchain Industry Alliance, Blockchain Finance Association, Guiyang Blockchain Innovation Research Institute and two other unnamed entities together released "Guiyang Blockchain ICO Consensus" yesterday in Guiyang with an eye to offer investor protection and maintain financial system stability.
In addition, U.S. Securities and Exchange Commission also said today that ICO will fall under the regulatory oversight of American securities regulators.
ICO is a form of unregulated m...
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