The ICO community is aware if the volatile state of current market situation and its members seek means to establish basic rules of thumbs in public ethics and transparency before the state regulations barge in.
The speakers of Consensus: Invest event warn that this government intervention could happen in 6-12 nearest months, when the scammed investors will massively complain to the state authorities, causing federal bodies to investigate the ICO industry in general.
That’s why the members of the community need to step in and get ahold of the self-regulation processes in the industry. "There is a lot of froth and crappy ICOs out there. We as a community need to put our best foot forward to say 'Let’s start thinking about frameworks for best practices and self-regulate ourselves.”, Matthew Roszak, co-founder and chairman of Bloq, said.
The preventive action in terms of establishing some ICO standards should be implemented before the stern hand of governments could disrupt them. Things as transparent token economy and project auditability would easen the industry regulation and drive more investment here.