Crypto Valley Association Issued its Own Code of ICOs Conducting
In an attempt to improve the quality of ICOs for companies launching this type of fundraising and for the participants, the Crypto Valley Association (CVA) based in Zug, released an official Code for conducting the ICOs. The code considers the moral and legal principles of safety during the initial coin offerings. The document is intended to guidance on moral, legal, and security practices and obligations in the ICO industry.
The CVA president Oliver Bussman said that the code was developed in connection with the rapid development of blockchain and ICO space.
“The Crypto Valley Association knows the best assets to the crypto space are the dynamically talented entrepreneurs that are our members. We want to be sure to provide these members and any new members of the CVA with an ICO-specific Code of Conduct as they embark on their ICO. It is an exciting process, a process that for many entrepreneurs and companies has the ability to change the landscape of the crypto field.”
The Association of Crypto Valley is committed to remove some risks out of the ICOs practice and to improve the quality of the ICOs final products and services. In a press release, Bousman explained:
“The rapid development of token launches has raised concerns around stability and security, and as a leader in this field, it’s [the CVA’s] responsibility to support the industry. The widespread adoption of this framework, combined with careful supportive regulation would bring stability to an exciting but uncertain trend in blockchain.”
Descrow fully supports such initiatives — putting the ICOs into legal framework will give this field the opportunity to gain the trust of investors. However, the main thing we need to achieve this goal is to increase awareness for both startups and investors. ICO has yet to form its own community, and the tool of decentralized escrow will facilitate this process.
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