The initial coin offering (ICO) of Velocity Ledger Holdings Limited (VLHL) has recently received the approval from the Bermuda Ministry of Finance, if the Bermuda Monetary Authority (BMA) also gives green light the firm will start its digital asset exchange operations in Bermuda . The CEO of VLHL, Shawn Sloves have explained, “Bermuda has adopted pragmatic, non-restrictive frameworks for digital assets that provide regulatory certainty to market participants.”
The National Securities Market Commission of Spain have made it clear that they did not give any permission for any entity to conduct an initial coin offering (ICO). The regulators have also explained that the decision made was not only replying to the fact, and to investment companies in the countries should be compliance with the regulations for certain market in the country.
The financial watchdog of Switzerland, Financial Market Supervisory Authority (FINMA) have discovered that the company behind the $90 million initial coin offering (ICO) turns out to be illegal. In its statement the Envion AG has accepted more than $91 million from 37,000 investors in exchange for bond-like tokens issued without a license.
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.