Waves Platform intends to create a self-regulatory body to set financial, accounting, and tax due diligence standards for ICO and blockchain industry. Moreover, it won’t leave KYC principles and other regulations aside, the company writes in the blog.
The organization will be founded as an association, with a headquarter in Switzerland. It will be open to all crypto market players: exchanges, marketing companies, ICOs, and blockchain platforms.
“Regulation is an emerging process and concern in the cryptocurrencies space. Although certain public bodies have not yet announced their intentions, it’s only a matter of time,” says Alexander Ivanov, CEO at Waves. “We realize that regulation would be a good thing for the crypto space. Moreover, we made it clear that we want to take part in a new discussion.”
According to the source, Deloitte CIS, ICO Governance Foundation, and Ethereum Competencies Centre are ready to support the association.
The official registration will be completed in Switzerland over the next couple of months while the executive body is planned to be created at the beginning of 2018. Then, the participants will start setting standards.
Also, Waves Platform along with TMT Investments plan to launch a fund for blockchain startups investments.