Negative impact of FCA warning on future gambling-related ICO plans

David Clifton is quoted in a Gambling Compliance article by Scott Longley entitled “Isle of Man to Consider ICO Warning Following UK’s Lead”.

The FCA has highlighted the risks involved in ICOs. This chimes with the views of the Gambling Commission, that has separately cautioned against the history of hacking, theft and criminal activity often associated with virtual and digital currencies.

In the article, that can be downloaded below, David is quoted as saying: “There’s a common theme here and until those concerns are adequately addressed to the satisfaction of both regulators, I expect these warnings to impact negatively on future gambling and e-sports-related ICO plans”.

UPDATE: For those interested in learning more about ICOs, an interesting article entitled “The Ultimate Beginners Guide To ICOs (Initial Coin Offerings)”can be accessed online here. Please note that we assume no liability for the content of that article (which has not been authored by us) and, as always, you should seek specialist advice before investing.