Approval has been made by Thailand’s securities regulator to the country’s first initial coin offering portal. The director of the fintech department at the SEC, Archari Suppiroj told that the approval of the first ICO portal in the country was finalized for official approval with the other relevant government department and agencies such as Commerce Ministry and many more.
The Finance Ministry of Germany have made it clear that the utility tokens do not fall under the Securities Trading Act. A short document published in the country according to a rough translation have explained, “As a rule, utility tokens do not constitute securities, investments or other financial instruments within the meaning of the German Securities Trading Act…”
The Securities and Exchange Commission (SEC) in Thailand has recently added XRP, ETC, XLM & More For ICO trading allow private ICOs to take place without the registration statements and draft prospectus; but made it clear that it doesn’t see any of the above as legal tender & used in compliance with the nations legal regulations.
A social media and messaging app headquartered in Canada, Kik taking fight against the SEC for its ICO designation to court. It has entered the cryptocurrency industry during the year 2017 with $100 Million ICO, however, being considered as unregistered security token by the SEC even though have been defined as a ‘utility token’.
BitTorrent (BTT) made an announcement regarding the series of airdrops which aims to boost the sale of the new token and increasing the price of Tron. It is the most talked and potentially largest ICOs of 2019. Starting on February 11 this year and ongoing until 2025 BitTorrent will be distributing BTT tokens to holders of Tron’s TRX.
The Kakao has expressed intention to commence an initial coin offering (ICO) in order to support its Clay blockchain project. It was previously expressed that the company plans to raise $300 million in order to introduce its own crypto. A source has revealed that the Ground X, subsidiary of Kakao, has almost attained the target with the involvement of a venture capital company.
The SEC and Commodity Futures Trading Commission (CFTC) adapt to the perspective that when Bitcoin is not considered as a security, the ICO tokens are subject to individual scrutiny. The chairman of the U.S. SEC, Jay Clayton expressed on the need to conduct token sales in line with the SEC guidelines at a recent interview.
The first ICO in New Zealand is set to be launched from 23rd November 2018 to 23rd January 2019 by Coingrid. Coingrid has claimed themselves as the “NZ’s friendliest cryptocurrency exchange” and are expecting to receive $3 million in Ethereum from their ICO despite the strict rules imposed by the government.
The Bitcademy has revealed that it had registered itself in Estonia aiming to introduce an Initial Coin Offering in December 2018. Estonia has been acknowledged as the hub of tokenized platforms supporting over 1,000 ICO projects. The company is aimed at revolutionizing the football industry where the token holders would be able to fund the players.
The ICO projects in Israel have raised nearly $600 million during the third quarter of 2018, the report released by One Alpha has revealed. The report stated that nearly 140 blockchain firms raised $1.3 billion investments of which 60% of the companies and 88% of the funds are connected to ICOs.