Crypto Coin Sales Get Fresh Regulatory Scrutiny as ECB Weighs In

Regulators across the globe are increasingly taking an interest in initial coin offerings, with European Central Bank Governing Council member Ewald Nowotny being the latest to weigh in.

The ECB is discussing putting “concrete legal restrictions in place” as the hype around digital currencies like bitcoin is “dangerous and deeply dubious,” Nowotny said in an interview with Austrian weekly magazine Trend. It’s unclear what those legal restrictions may be and what powers the ECB has over ICOs. What’s clear though, is that central banks are likely to be skeptical about a technology that was created to bypass them.