Categories: NewsRegulations

Cryptocurrency Enthusiastic American Congressman Pushes for ICO Legitimacy

Initial Coin Offerings (ICOs) promised new ventures into financing and technology. However, scams have put it on high alert for regulatory bodies. American bodies such as the Security and Exchange Commission (SEC) for example are keeping a close watch on ICO’s whether it be shutting them down, or even warning individuals who market them hoping for investors to fall in a trap.

Republican Congressman Warren Davidson believes otherwise and is pushing for a better way to regulate ICOs so that it survives in the long run. As the saying goes “If you can’t beat them, join them!’

Davidson is a Cryptocurrency enthusiast who has pushed not only for ICO regulation but also for Cryptocurrencies to progress in the U.S. In August 2018, Davidson invited 32 Cryptocurrency companies to Capitol Hill to discuss on ICO regulations. He confirmed that ICO regulation should have a ‘light-touch approach’ suggesting that ICOs are useful but need to come under specific regulations.

The Cryptocurrency scene as of now is a confused state in the US while Blockchain has already progressed in being utilized by the government. Blockchain technology, for example, has already been used for remote voting for the West Virginia midterm elections through a platform called Voatz.

Gregory L Watkins Tweeted:

Blockmanity’s Take


Overall things are looking positive after Davidson’s approach to push for Cryptocurrency regulations as Republicans are usually opposed to regulation and government intervention. However, with Republicans supporting and Democrats already in line with supporting Cryptocurrency, it should be a favorable 2019 if and when America progresses into being pro Cryptocurrency.

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Amrit Mirchandani

Blockchain Lover | Hustler | Cryptocurrency Enthusiast

Share
Published by
Amrit Mirchandani

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago