Turkey Reconsiders ICO Financing Method While US Takes Proper Step Towards Understanding Crypto World
The crypto world is flooded with equal numbers of naysayers and supporters. When looking at the market in the perspective of a country, surely the risks seem to outweigh the rewards. This is not always the case as many countries have since considered blockchain technology and cryptocurrencies, one example being that of the island, Malta.
To add to the gradual acceptance of cryptocurrencies, a recent Trustnodes.com report revealed that Turkey might consider the likes of Initial Coin Offerings (ICOs). Whether or not this implies the use or issuance of cryptocurrencies remains ambiguous. Does this mean that the method ICOs have in raising funds is preferred by Turkey? The answer to this also remains hidden, but a translation has been provided and it goes as follows:
“Funding innovative projects by promoting digital transformation for Crowdfunding and IPO […] Modern and new generation such as ICO financing methods will be expanded.”
This is surely to boost businesses, as the negative reputation ICOs have earned since the many scams forced many countries to consider an ICO ban. In all excitement, news on America’s current stance on the crypto sphere has also been updated and it seems like an old, yet effective approach has been taken this time around.
Apparently, a discussion is scheduled to take place today, September 25, which includes both lawmakers and specialized individuals within the crypto sphere. Some of the specialized individuals come with years of experience and popularity including the likes of Coinbase, Circle, Andreessen Horowitz, Nasdaq, and many more.
This is the first time that such a discussion is taking place, as typical procedures entail discussions among lawmakers only, who normally hold the same stance on a matter. The fact that the U.S has offered an opportunity in which said specialists can argue their support for the crypto world could potentially create new perspectives that the Securities and Exchange Commission (SEC) might have missed.
The main reason for the discussion – besides deciding on how to approach ICOs in U.S – is to come up with a regulatory framework that doesn’t compromise the county’s ability to compete within the crypto and blockchain industry.
Will these two countries set an example on how to approach ICOs in a tolerable and effective manner? We’ll just have to wait and see!