Bermuda legalize ICO
Source:
In 2018 the global market for the ICO could increase four times — up to 10-15 billion dollars, the forecast of the Russian Association of cryptocurrency and blockchain (RAKIB). In connection with the growth of interest in the primary distribution of coins Bermuda has decided to legalize the ICO on its territory. About it Bitsonline.
theICO will become legal
the Government expects that the adoption of the bill will attract in the country foreign financial technological companies. Prime Minister David Burt said that Bermuda experience could be an example for other countries in the part of an ICO.
Bermuda have the opportunity to become a world leader in the field of Finance and one of the first countries in the world that will regulate ICO. The proposed regulatory framework will provide legislative certainty to companies who want to host ICO.
According to the published bill, the initial placement of tokens can recognize the "restricted business activities". Before starting the ICO, the company will have to obtain the approval of the Ministry of Finance, which verifies the compliance of the projects minimum requirements. Among them — "mandatory disclosure of certain information about the company and digital assets that are offered for sale".
According to Bert, when the regulation of ICO lawmakers will adhere to the "balanced approach".
One of the first countries to legalize ICO, mining and cryptocurrency Belarus. Restrictions and special requirements for operations, storage, disposal, and exchange of tokens and activities of cripture in the country none.
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