I Assist only Security ICOs because I don’t believe that many are not Securites – Adam Cleary, CEO, Cavenham Capital (UK)
I hope I’ve got the comment close enough to what Mr Adam Cleary said.
After the discussion on VC and the Cryptocurrency revolution, an important question came to my mind;
What would be your conditions for an ICO to qualify for a simplified procedure?
Analogically too many licensing regulatory present in our laws in the UK and EU including:
Alcohol sale and event licences, where a business can apply for an up to 7 days long event that include late hours opening and the sale of alcohol filing even the “Late Notice Form” as long as the number of customers on the premises won’t exceed a 100 or so (this doesn’t mean that the regulator thinks it OK to put 100 people in danger neither that a 100 can get drunk and are allowed to disrupt the neighborhood but 101 are not allowed)
Another very popular form of licensing is the driving licence. A driver needs a higher category than B to have 10 passengers on board but driving the same vehicle he can have up to 9 passengers with a B category driving licence. (here also it does not mean that the regulator agrees to put 9 people in danger but not 10)
So, instead of forcing a manufacturer to apply for producing “kitchen knifes”, while the intention is to make “swords”, what would be the proposed conditions for an ICO to qualify for a reduced procedure?, which will lead to more legit registrations of ICOs and to keep doors open for innovation, which will also prevent migration of businesses outside the UK or the EU in general. And again this would not mean that the regulator accepts scams.
27 Jan 2018
CEO, Team Blockchain (UK)
CEO, Cavenham Capital (UK)
CEO, Coinsilium (UK)