The Financial Commission, an independent body that certifies trading technologies and conducts procedures for external dispute resolution for the forex industry, has established a committee tasked with certifying new ICOs. The ICO Certification Committee will comprise an independent self-regulatory organization backed by the Finance Commission’s Dispute Resolution Committee. The ICC will assess initial coin offering according to a yet to be disclosed set of criteria.
Peter Tatarnikov, chairman and founding member of the ICO Certification Committee, has articulated the circumstances leading up to the establishment of the ICC, in addition to its goals. ”The ICO certification service was a natural addition to our existing technology certification service for Fintech companies. cryptofinancing via ICOs is skyrocketing in popularity yet the process is still ridden with challenges for issuers and investors – so the need to establish best practices for Fintech companies seeking capital raises via cryptofinancing was needed and Financial Commission is pleased to now offer certification to eligible firms seeking to do an ICO.”
The ICC is expected to act as an extension of Financial Commission, which comprises an independent dispute resolution and self-regulatory body for the forex industry. It is expected that the ICC will largely operate in the interests of forex brokers, and seek to develop criteria by which to assess the risks associated with facilitating the trade tokens or derivatives associated with initial coin offerings. The Financial Commission’s external dispute resolution services are not registered or regulated within any jurisdiction.
Full story at http://bit.ly/2wrR6RL
Source: Bitcoin News
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