The financial regulation authorities in Australia are quite concerned about the misleading initial coin offerings. This is why some of the issuers are thinking on the lines of modifying their structure.
In fact the Australian authorities have decided to take action against the deceptive conduct of the ICO’s. Now, this action does deserve applause because Australia wants to encourage an attitude of transparency when it comes to initial coin offerings and digital currency.
The deceptive ICO’s can be more of a threat for the investors who are relatively new to the field of digital currency. If the investors fall prey to the deceptive ICO’s, then they can lose a fair amount of investment at the end of the day.
At the moment the authorities are questioning the ICO issuers so that they can identify the element of deception. The authorities are also keen to identify the unregulated activities. The ICO issuers also need to take this questioning on a positive note and bring about the needed changes in their structure.
If the ICO issuers follow the rules that are set by the authorities, then it will become easier for the investors to confide in the ICO and they will take part in these ICO’s with full zeal and zest.
The authorities are keen that the ICO issuers should not be passing misleading statements as it can be quite upsetting for the investors. If the investors do not confide in the ICO’s, then it will become very difficult for the digital currency industry to excel and this will surely not be a positive move.
The authorities are of the opinion that these ICO issuers are leaving no stone unturned to generate hype about their ICO. They are using the social media as a lethal weapon in this regard. This is what the authorities term as misconduct that cannot be ignored.
What the Australian Commission wants is that true and correct information should be passed on to the investors. This way they can make better investment decisions. At the moment there are many ICO issuers who engage groups that can create hype about an ICO on the social media platforms.
If the Australian Commission can introduce this element of accountability among the ICO issuers, then the digital currency can flourish in the real sense of the word. Plus, more and more people will be keen to invest in the digital currency market because of the transparency.