Ashley Fox, a Member of the European Parliament (MEP), held a meeting on Tuesday to discuss proposed regulations that would set in place new rules for ICOs and, more specifically, the people and businesses that conduct them.
Fox said that the rules would be voluntary for projects that engage in token sales, though he hopes that companies will want to abide by them if they are adopted.
The MEP’s proposal would limit the proceeds for ICOs to 8 million euros, mandate know-your-customer/anti-money laundering rules, and provide token startups with access to the entire EU, he explained in an exclusive interview with CoinDesk.