Although governments have started a dialogue on how to even approach and define cryptocurrencies and blockchain it may be some time before this is a uniformed approach.

Until a time where ICOs will have a clear set of laws to follow ICOs will need to try align themselves as best as possible to existing laws currently in place especially in regards to the processing and storing of personal data of investors data.

KYC/AML is becoming a typical requirement of fund raising and for the immediate future, more and more ICOs will need to follow laws such as the GDPR or risk being shut down or fined for non-compliance.

For ICOs, receiving a knock on the door by an enforcement agency can have the effect of destroying their reputation and good standing in the blockchain investment world.

Negative publicity, long delays, fines (up to 20 million euro) and potential criminal charges are all the result of avoiding the EU regulatory requirements of the GDPR.

Read more at: https://www.kycbench.com/the-future-of-ico/


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