The European Securities and Markets Authority (ESMA) is adopting the same approach as its US counterpart, examining initial coin offerings (ICOs) on a case-by-case basis to determine how they fit the EU regulatory framework.

As reported by Reuters, ESMA chair Steven Maijoor said on Monday some ICOs have the characteristics of financial instruments, which would warrant treatment under a specific framework.

“The subsequent question is what do we do with those ICOs that are outside the regulatory world. We will assess that as a board. We expect to report by the end of the year,” Maijoor told the European Parliament’s economic affairs committee.

This article appeared first on Cryptovest

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