Released Monday, the European Securities and Markets Authority (ESMA) followed multiple jurisdictions in raising concerns that ICOs may not conform to regulatory norms.
“ESMA has observed a rapid growth in ICOs globally and in Europe and is concerned that investors may be unaware of the high risks that they are taking when investing in ICOs,” a summary of the reports states.
“Additionally, ESMA is concerned that firms involved in ICOs may conduct their activities without complying with relevant applicable EU legislation.”
The “concerns” come as the ICO industry undergoes major changes. A far cry from the explosive growth seen just months previously, pressure from lawmakers has appeared to engender a slowdown in the number of token sales and amounts raised…