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US Congressman Says ICO Market Needs ‘Light Touch’ Regulation to Provide Certainty

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U.S. Representative Warren Davidson (R-Ohio) said the initial coin offering (ICO) market needs “light touch” regulation on CNBC’s Squawk Box today, June 21.

When asked about cryptocurrency regulation, Davidson argued that the “big thing” the market needs is a “light touch regulatory framework” which, according to the congressman, would provide more certainty.

Davidson stressed the necessity of defining the status of cryptocurrencies, pointing out the recent announcement of the U.S. Securities and Exchange Commission (SEC) that the top altcoin Ethereum (ETH) will be considered a commodity rather than a security. He added that the government still “[has not] ...

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