The Australian Securities and Investments Commission (ASIC) has issued updated regulatory guidance for businesses involved with ICOs and crypto assets.
Announced Thursday, the guidance details the legal obligations for cryptocurrency firms under the country’s Corporations Act, the ASIC Act and other laws.
“These regulatory requirements are in place to maintain the integrity of Australia’s financial market and ensure consumer protection,” the regulator said.
ICOs and crypto assets in many cases are financial products or involve financial products that are regulated under the Corporations Act, according to ASIC. Therefore, if a firm is [...]
During the year 2017, initial coin offerings were all of the rage in the cryptocurrency world. Thousands of projects introduced their own tokens which were all destined to revolutionize the world in one way or another. While most of those projects are now long gone, it would appear there are others which still try to make a name for themselves. The following four valuable lessons show there is more to investing in ICOs than people may think.Not all ICO Projects are Dead
Over the past few years, a lot of interesting statistics involving initial coin offerings have come to light. Not only because a fair few projects pulled an exit scam, but also because a fair [...]
Last year was unkind to the entire cryptocurrency market, at exchanges shut their doors and coins lost substantial value. Ambisafe was one of the unlucky ones. With the ICO business suffering during the bear market, there was little use for an ICO services company. Though the company managed to start the year with 120 staff members, the 2018 market resulted in a cut of 70 people.
Ambisafe was founded in 2015, offering back-end solutions to the companies that primarily deal with white-labeled wallet and token sale platforms within the blockchain industry. Ambisafe was also responsible for offering other services, like acting as an exchange, auditing [...]
The laws governing initial coin offerings (ICOs) have been debated around the world, often included in the regulations that govern cryptocurrency as well. In Thailand, the proposal of an ICO portal was brought to regulators. As of March 12th, the Bangkok Post is reporting that the securities regulator has approved the portal for launch.
This is the first ICO portal that the Thai Securities and Exchange Commission’s (SEC’s) board of directors has approved, and it will make it possible to screen ICOs and perform due diligence. The portal will also confirm the source codes of smart contracts while following the procedures outlined in Know Your Customer (KYC) [...]