OECD calls for global ICO regulation


The Organization for Economic Co-operation and Development (OECD) has called for coordinated efforts to regulate the primary token supply (ICO). The holding of an ICO is associated with high risks, so countries should adopt uniform regulatory standards. This will help prevent illegal actions and money laundering, according to the OECD. The statement of the OECD on the regulation of ICO caused a drop in the cryptocurrency rate. Ethereum fell by 1.66%, the Litecoin rate fell by 1.47%, and XRP fell by 0.21%. The international community has been planning ICO regulation for a long time, but countries have not yet reached agreement on this issue. The idea to regulate the holding of ICOs was already put forward by the European Banking Agency (EBA) and the European Securities and Markets Authority (ESMA) earlier this year. A senior adviser to the Bank of England expressed his opinion on cryptocurrency, which boils down to the fact that the new payment instrument cannot yet compete with fiat currencies.

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