Proof of Use? Civil Believes This ICO Model Lets It Sell Anyone Tokens Legally

Civil, the blockchain startup looking to disrupt media, will be offering its crypto token to investors of all kinds – both accredited and unaccredited – next week. As a spoke of ConsenSys, the ethereum startup incubator and business all its own, that decision runs counter to most of the common wisdom about token sales these days. The much maligned initial coin offering (ICO) has come under intense fire recently for everything from sinking ethereum’s price to scuttling whatever hard won credibility the industry managed to gain before mania built up…

Final Draft of ICO Legislation Could Signify Next Step for Philippines Fintech Sector

The Philippine Securities and Exchange Commission (SEC) is due to unveil the hotly anticipated draft regulation for cryptocurrencies in the next few days, if the information provided by The Manilla Times is correct. If the regulation reflects the previous enthusiastic efforts to implement cryptocurrency in the Philippines, it stands to play a seminal role in defining the country’s status as a major player in the fintech sector. The SEC chairman, Ephyro Luis Amatong, has previously emphasised the need to regulate cryptocurrency exchanges as traditional trading platforms. The draft comes in…

France Finalizes New ICO Framework to ‘Attract Innovators Globally’

France’s Minister for the Economy and Finance has announced that the government has accepted an article of the Business Growth and Transformation bill (PACTE) dedicated to Initial Coin Offerings (ICO), according to a tweet posted Wednesday, September 12. As finance Minister Bruno Le Maire states, the French stock markets regulator Autorité des marchés financiers (AMF) is now empowered to give licenses to companies that want to raise funds via an ICO, with the legislation aiming to help protect contributors’ interests. Le Maire also hopes that the current legal framework for…

Brazilian Soccer Club Seeks $20 Million In Upcoming ICO

A Brazilian soccer team is looking to raise $20 million by launching its own initial coin offering (ICO). The Avaí Futebol Clube, a Series B soccer team, announced Wednesday that it was generating its own cryptocurrency as part of an effort to develop a digital ecosystem for its fans, help it qualify for the top tier (Series A) of Brazilian soccer and the prestigious Copa Libertadores competition and to build up the team’s physical infrastructure. Inside World Football reported that the club will sell 20.46 million tokens at $1 each. The…

Korean Financial Watchdogs Probing Blockchain Firms Over ICO Activity

South Korean financial watchdogs are contacting domestic blockchain startups as part on an investigation into initial coin offerings (ICOs). According to an exclusive report from CoinDesk Korea, the probe is causing jitters among the firms over whether it could ultimately lead to some form of sanctions if firms are considered to have broken rules on token sales. Currently, ICOs are technically not allowed, since the token-based funding method was banned last September. As revealed in a questionnaire from the Financial Services Commission – obtained by CoinDesk Korea on Wednesday – the Financial Supervisory…

Stellar Gets Another Boost With TokenSoft ICO Services Expansion

ICO services platform TokenSoft is officially launching support for projects on the Stellar lumens protocol. The company – which helps crypto startups navigate through legal compliance procedures in the U.S. and internationally – announced Tuesday that it would extend its offerings to include the Stellar platform, having previously assisted ethereum-based projects. TokenSoft co-founder Mason Borda told CoinDesk that his company had been looking into Stellar since the first quarter of 2018, citing its level of “maturity” as the reason for accepting it to the platform. “We feel that [the Stellar network], the…

ICO Cashing out FUDs Impeding ETH Recovery

A 33 percent dip in the last week means Ethereum sellers are stepping on the gas pedal. There are many theories around this rapid decline with most associating this dump with ICOs losing their patience and cashing out. Others are pointing to the influence of Bitcoin and the correlation between the two while some are merging this with mining woes and how unprofitable it has become. Either way, ETH like the rest of the market is on a down trend and trading below $200 with sellers aiming for $150. From…

Australian Regulator Hints at Increased Crypto Exchange and ICO Scrutiny

Australian regulator the Australian Securities and Investments Commission (ASIC) has revealed plans to increase scrutiny of cryptocurrency exchanges and Initial Coin Offerings (ICO) in its ‘Corporate Plan’ published this week. ASIC, which acts as a supervisory organ for financial market operators, highlighted the exchange sector as an area of priority through 2022. Specifically, the body plans to ensure any “threats of harm” from the nascent industry are mitigated as part of its regulatory remit. “Potential harms from technology driven by the growing digital environment and structural changes in financial services…

Belgian Think Tank Calls for Crypto Exchange and ICO Regulations at EU Level

A report from a Belgian think tank that will reportedly be distributed to European Union (E.U.) ministers calls for unified legislation on cryptocurrencies and more scrutiny on how they are distributed to investors, Reuters reported September 5. The report, ostensibly released by Brussels-based think tank Bruegel, comes ahead of an informal meeting of economic and financial affairs ministers from the E.U. on cryptocurrency investments and taxation of the digital economy. The meeting will take place in Austria from September 7-8. According to Reuters, the report urges the regulation of cryptocurrency…

European Parliament Members, Blockchain Experts Meet to Discuss ICO Regulation

Members of the European Parliament along with blockchain experts met Tuesday, September 4, to discuss possible regulations for Initial Coin Offerings (ICO). At the recent EU event entitled “Regulating ICOs — Is the Crowdfunding Proposal what we were looking for?” the attendees examined the potential complications currently arising in the ICO industry. Ashley Fox, a British Member of the European Parliament, pinpointed three main issues to consider at the meeting: challenges faced by ICOs in raising capital, the existing regulatory approaches on the matter, and the future perspectives of the…