6 Amendments of Antanas GUOGA related to 2018/0048(COD)
Amendment 160 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) In order to allow for a competitive Union-framework, crowdfunding service providers should be permitted to raise capital through their platforms using tokens. Initial Coin Offerings (ICOs) offer new and innovative ways of funding but can also generate substantial market, fraud and cyber security risks to investors. Therefore, crowdfunding service providers that wish to offer ICOs through their platform, should comply with specific additional requirements under this Regulation. Whilst project owners can still opt for the private placement of an ICO or use a prospectus for an ICO, this regulation only covers those who opt to use a crowdfunding service provider as an intermediary. Further to this, ICOs raising in excess of EUR 8 000 000 or ICOs that do not use a centralised issuer should not fall within the scope of this Regulation. Only tokens that represent either a loan or transferable security and that have a central issuer who takes responsibility for the issuance of the tokens should be covered by the Regulation. Crowdfunding Service providers who offer ICOs via their platform should ensure that all requisite due diligence checks have been conducted in accordance with this regulation.
Amendment 196 #
Proposal for a regulation
Article 2 – paragraph 2 – point d a (new)
Article 2 – paragraph 2 – point d a (new)
(da) crowdfunding service providers that facilitate the raising of capital through their platforms via Initial Coin Offerings (ICO) that issue tokens that do not have a centralised issuer.
Amendment 216 #
Proposal for a regulation
Article 3 – paragraph 1 – point l a (new)
Article 3 – paragraph 1 – point l a (new)
(la) ‘Initial Coin Offering’ or ‘ICO’ means a method of raising funds from the public using tokens that are put for sale by a business or an individual in exchange for fiat or cryptocurrencies.
Amendment 217 #
Proposal for a regulation
Article 3 – paragraph 1 – point l b (new)
Article 3 – paragraph 1 – point l b (new)
(lb) ‘token’ means any form of digital medium of exchange, a digital unit of account and/or a store of value that is used to serve as or represent an asset
Amendment 218 #
Proposal for a regulation
Article 3 – paragraph 1 – point l c (new)
Article 3 – paragraph 1 – point l c (new)
(lc) ‘cryptocurrency’ means a maths- based decentralised convertible virtual currency that is protected by cryptography, relies on public and private keys to transfer value from one person to another and may be cryptographically signed each time it is transferred;
Amendment 224 #
Proposal for a regulation
Article 4 a (new)
Article 4 a (new)
Article 4a Provision of Initial Coin Offerings 1. This Regulation shall apply to crowdfunding service providers authorised in accordance with Article 10 who facilitates ICOs that fall within the scope of this Article 4a. 2. This Regulation shall only apply to ICOs of tokens where there is a centralised issuer of the tokens. 3. This Regulation shall only apply to ICOs of tokens that are either loans or transferable securities. 4. This Regulation shall only apply to the primary issuance or selling of tokens and not secondary trading of such tokens. 5. This Regulation shall not apply to private placement of tokens. 6. This Regulation shall not apply to ICOs with a consideration of more than EUR 8 000 000 per issuance in an ICO.