French financial regulator concerned about ICO

Head of Autorité des Marchés Financiers urged the authorities of France and the EU determine the legal status of the ICO
09 October 2017   1464

The head of the French Commission for the Supervision of the Financial Market (Autorité des Marchés Financiers, AMF), Robert Ophele, is convinced that the existing European legislation is ineffective with regard to the regulation of the ICO. This is reported by Bitcoin.com.

In Ophele's opinion, European legislation does not allow to qualify the ICO in any way and does not make it possible to determine the cases when additional requirements must be made to the ICOs.

The AMF is currently analyzing the legal status for ICOs. Which are in the process of developing in France. We want to have a  position on the subject, to act without waiting for Europe to deal with the subject because it will be too late in terms of investor protection.
 

Robert Ophele
Head, AMF

Also, Ophele urged the authorities of France and the EU determine the legal status of the ICO. According to the head of the AMF, this should contribute to the development of innovations in the financial and technological sector.

Meanwhile, AMF representatives report that the regulator is often approached by start-ups that are going to conduct ICO and who want to receive advice on the requirements that may be raised for fund-raising campaigns.

 

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Pantera Capital to Intend to Raise $175M for Crypto Fund

Whether the firm can achieve its funding goal is still unclear
16 August 2018   197

Pantera Capital intends to raise up to $ 175 million for its third venture fund, focused on the blockchain and cryptocurrencies, which marks significant progress against the background of the company's other two funds: the assets of the first of them are $ 13 million, the second - $ 25 million. This is reported by TechCrunch.

As reported, company's partner Paul Veradittakit says the target amount is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Whether the firm can achieve its funding goal is still unclear. According to documents recently sent to the US Securities and Exchange Commission (SEC), it has already managed to raise more than $ 71 million with the participation of 90 investors. Veradittakit calls this event "the closing of the first transaction".

One of the company's new funds, which opened last year, has a hedge fund structure and focuses exclusively on the ICO. The founder of the company Dan Morehead said earlier that Pantera takes part in the first stages of such campaigns, "basically getting a discount to the ICO price by getting in early, when it’s just a team and a white paper."

The second fund of the company is engaged in investing in bitcoin and has managed to serve a large number of investors during its existence. According to Morhed's calculations, the fund, launched 5 years ago, demonstrated a return of 10 136%.

The last fund Pantera invests in cryptocurrencies, which are already traded on the exchanges. It uses machine learning for algorithmic investment and takes into account the views of the company's management when making investment decisions.