Felix Hufeld, president of BaFin, believes that ICOs have small investor protection which makes participation in it risky. He says ICOs have little rights to protect themselves from the dangers involved.
Joint Global Regulation
Money Laundering is among the reasons why governments are crypto-cautious.
Hufeld states the need for worldwide coordination in regulating the ICO space to create standards for governing contracts which will preserve the ‘privacy’ rights of investors.
The BaFin president encourages that regulations that will be made should protect investors and ICO participants without suppressing innovations.