Waves Platform, with the support of leading market players, is founding a new self-regulatory body to set standards for ICOs
One of the biggest audit firms Deloitte started working with crypto platform Waves. As it is said in the report they want to create a basement for regulations:
Moscow, Zurich, 11 December 2017 - Waves Platform is creating a self-regulatory body that will provide reporting, legal, >tax & accounting, KYC and business due diligence standards for ICOs and blockchain industry. The organisation will be >founded as an association, with Switzerland being the most obvious choice for location. It will be open to all crypto >market leaders: exchanges, marketing companies, ICO platforms, blockchain platforms, professional services firms and >reputable individuals. “Regulation is clearly an emerging phenomenon and concern in the crypto space. If certain >jurisdictions have not yet announced their intentions, then it’s only a matter of time. Waves has always been clear that >regulation – the right kind of regulation – is a good thing for the crypto space. We have also been clear that we want to >be a part of that emerging dialogue. We want a seat at the table to be able to shape the future of regulation in the ICO >and blockchain space,” says Alexander Ivanov, CEO and founder of Waves Platform.
It is important to say that Deloitte is on of the biggest audit companies together with KPMG, E&Y, and PwC.
The Waves Platform is taking a leadership role in working with the IGF on ICO disclosure standards” said Miko Matsumura, Founder of the ICO Governance Foundation. “By exhibiting leadership here they are expanding the scope of what it means to be a platform for token creation.” The organisation will be blockchain-agnostic, providing best business practices for token sales on all platforms. Naturally, it will be the recommendation for all Waves token sales to come. Leading market players and advisers, including Deloitte CIS, ICO Governance Foundation, Ethereum Competencies Centre - have stated their support for the association.
Over the next couple of months, Waves will be registering the association in Switzerland, creating its executive bodies and issuing proposed industry standards. This process is planned to be finished at the beginning of 2018.
The Waves Platform is a global public blockchain platform, founded in 2016. Waves Platform’s mission is to reinvent the DNA of entrepreneurship around the world by providing a shared infrastructure, offering easy-to-use, highly functional tools to make blockchain available to every person or organisation that can benefit from it. The Waves Platform is primarily designed to support the issuance, trade and exchange of digital assets or tokens using blockchain technology. It is supposed to use Proof-of-Stake as its consensus algorithm. Waves Platform completed its Initial Coin Offering in June 2016, garnering more than $16 million (30,000 BTC).