Blockchain-based self-sovereign identity solution joins initial signatories to promote the controlled development of this deregulated market
Peer Mountain has joined an elite group of signatories to the ICO Charter, the first charter for good practice covering Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs) aimed at promoting the controlled development of this deregulated market.
Peer Mountain joins Avolta Partners, Chaineum, Exaegis, Kramer Levin, KYC3 and Scalene Partners as signatories of the ICO Charter.
Jed Grant, the founder and CEO of both Peer Mountain and KYC3, said: “The ICO Charter is an important document in the development of the European ICO and ITO markets, as demonstrated by the market leaders that have signed up to it already. KYC3 is a signatory because integrity and good governance are the backbone of a successful economy and core to our business. Peer Mountain has joined because we are a trust building platform and thought leader in this space that welcomes and promotes good self-regulation.”
All the signatories indicated their strong belief in the need for a European manifesto in this exciting field, so that participants could pool resources and respect legal frameworks without the fear of regulation.
The Charter has 10 points covering the entire ICO and ITO approach to financial and technological transparency. These include information provided on the project, independent legal analysis, access to the technical specifications and measures to cover Know Your Customer (KYC), Anti-Money Laundering (AML) and anti-terrorism verification.
The ICO Charter comes at an important time for Peer Mountain, as it gears up for its own token sale in November. Of the one billion tokens that will be generated, 40% will be sold in the pre-sale and main sale, while 10% will be reserved for project participants.