ICO Regulations across all the countries that have issued statements on the legal status of token sales. Great hope for all CryptoLover to see the following countries listed below as safe-heaven to invest in ICO...
Canada’s financial regulator, the Canadian Securities Administrators CSA, announced that securities law could now apply to initial coin offerings if the newly issued digital token can be categorized as a financial security in the country.
United States is the biggest fan of ICOs, the U.S. Securities and Exchange Commission SEC published a statement that highlighted the risks associated with investing in initial coin offerings and announced that digital tokens that effectively act as securities of the issuing company would fall under U.S. federal securities law going forward.
That means that any new startup launching an ICO will either have to fall under the S.E.C’s regulatory scrutiny or will have to demonstrate that its tokens.
Hong Kong, Unlike mainland China has published ICO regulations that are more accommodating for startups on their projects. The Securities and Futures Commission SFC published a statement that states that digital tokens that fall under the definition of securities are subject to Hong Kong securities law and, therefore, fall under the SFC’s regulatory scope.
The Isle of Man is a self-governed island off the coast of the U.K. that is known for its liberal financial regulation. This is also reflected in the new regulatory framework for ICOs, called the Isle of Man Registered Designated Business ICO, which is aimed at opening the doors for blockchain startups who want to incorporate on the island to launch AML and KYC compliant token sales.
Gibraltar Financial Services Commission issued a statement which states that starting from January 2018, a new framework will regulate Gibraltar-based companies that use blockchain technology to “store or transmit value belonging to others. The financial regulator indicated that token sales could also come under regulatory scrutiny going forward, stating that it is “considering a complementary regulatory framework covering the promotion and sale of tokens, aligned with the DLT framework.
Singapore’s financial regulator, the Monetary Authority of Singapore MAS, published a statement that read: the offer or issue of digital tokens in Singapore will be regulated by MAS if the digital tokens constitute products regulated under the Securities and Futures Act SFA. MAS’ clarification comes in the wake of a recent increase in the number of initial coin (or token) offerings ICOs in Singapore as a means of raising funds.
Switzerland’s financial regulator, the Financial Market Supervisory Authority FINMA, issued a statement that announced that the regulator plans to investigate all ICOs held within its borders in an attempt to identify if certain types of ICOs may fall under their regulatory scope and to crack down on fraudulent token sales.
Switzerland is one of the most cryptocurrency-friendly countries in the world and is the home to a leading blockchain hub called the Crypto Valley.
United Kingdom, The Financial Conduct Authority in the U.K. has been known to be very fintech-friendly and does not view digital currencies as a threat to the country’s financial system. In fact, there are several blockchain startups in the FCA’s Fintech Sandbox who are developing cryptocurrency-based financial solutions with support from the regulator.
Token sale regulations are also expected to be issued soon in Russia come 2018 and other European nations. Is a great hope for all rejoice that cryptocurrency has come to stay and must revolutionize the future of payments.
@udibekwe