While I was writing my first ICO blog, I realized that I started creating a long list of countries that declared ICOs being securities in their jurisdictions. There are many details I wanted to put, but to limit the content I decided to publish another blog personalized for ICO vs Securities.
- USA / July 25, 2017: DAO tokens considered securities by the US Securities and Exchange Commission (SEC). Other countries follow the SEC’s steps:
- Singapore / August 1, 2017: Monetary Authority of Singapore (MAS) states that the offer or issue of ICOs will be regulated as regulated products as defined by the Securities and Futures Act (Cap. 289). November 14, 2017: MAS clarifies what and when an ICO is a security or not with several examples.
- Hong Kong / September 5, 2017: HK Securities and Futures Commission (SFC) announces that some ICOs may qualify as securities under the Securities and Futures Ordinance (SFO).
- Australia / September 28, 2017: Australian Securities and Investments Commission (ASIC) defines that ICOs could fall under the general consumer law, while if it is offering financial product it will fall under the Corporations Act.
- New Zealand / October 25, 2017: New Zealand Financial Markets Authority (FMA) releases commentary on cryptos, including the extent when ICO is regulated depends when a ‘regulated product’ is being offered to retail investor.
- Thailand / September 14, 2017: The Securities and Exchange Commission, Thailand (SEC, Thai) issues its viewpoint on ICOs. When ICOs constitute offering of securities, the issuer needs to comply with the Thai applicable regulations.
Are we going to see Europe taking same steps?
Let me know what you think on the regulations attempt to control crypto and I will follow you :D