US Financial Commission to issue ICO certificates

The Financial Commission has formed a panel of financial technology experts to issue certificates for initial coin offerings (ICOs) and to assess the merits of future ICOs. The independent body has been named the ICO Certification Committee (ICC).

ICO Certification

The Financial Commission, an independent organization responsible for certifying trading technology and external dispute resolution in the forex market, has set up a committee to certify new ICOs. The ICO Certification Committee will be composed of independent autonomous bodies and supported by the Financial Commission’s Dispute Resolution Committee. The ICC will evaluate ICOs based on a set of criteria that have not yet been made public.

ICC President and founding member Peter Tatarnikov explained the circumstances that led to the establishment of the ICC and its objectives.

The ICO Certification service is part of our existing technical certification service for fintech companies. Raising funds through ICOs is becoming increasingly popular, but the process is still fraught with challenges for issuers and investors - so it is necessary to structure the best fundraising methods for fintech companies. Financial Commission is also happy to provide certification services to companies that meet the ICO criteria.

Governments around the world are paying attention to ICOs

ICC is part of the Financial Commission, an independent dispute resolution and self-governing body for the foreign exchange industry. ICC will primarily serve foreign exchange brokers and will establish specific standards for assessing the risks of token or ICO derivative transactions. The Financial Commission's external dispute resolution service is not registered or regulated by any jurisdiction.

When the ICO Certification Committee was announced, many governments were planning to strengthen ICO supervision. The US Securities and Exchange Commission (SEC) recently issued a warning on ICOs, believing that ICOs are an unregistered form of securities issuance, and then the financial regulators of Canada and Singapore followed the SEC's footsteps. Chinese regulators are also discussing the supervision of the ICO industry and are even considering directly banning ICOs initiated in China.