On April 25, 2018 the Ukrainian forum of Internet activists was held in Kyiv. iForum is the nine main directions with thematic performances that take place simultaneously in several halls. After the official opening on the main stage, the reports continue throughout the day, without interruption. This year the following directions were presented in the program:
advertising and promotion;
future educational technologies;
Blockchain, Digital Fun, CRM.
Due to the fact that the emergence of the new startups on the ICO on the Ukrainian market is very topical today, the representatives of the Finance Business Service have chosen the Blockchain direction.
The first performance in the Blockchain direction was the report of the representative of the Swiss office of KPMG Andre Gudel.
The report referred to the publication of the Swiss Financial Market Supervisory Authority (FINMA) of the principles of application of the legislation when considering the requests from the organizers of the ICO. Unfortunately, it is not new information on the regulation of cryptocurrency in Switzerland,...
The Swiss Financial Market Supervisory Authority has issued regulatory guidance on ICO. Switzerland is still on the list of the most popular jurisdictions for the organization and development of the activities that are related or based on blockchain, many of which are funded through ICO. In this regard, the Swiss Financial Market Supervisory Authority (hereinafter referred to as FINMA, the Authority) published regulatory guidance on February 16, 2018 determining the direction for future normative regulation in this field. In addition, FINMA has also clarified the expectations regarding the requirements for the requests relating to the application of the Swiss financial markets legislation in the context of the specific ICO projects.
The document, entitled “FINMA Recommendations regarding requests on legislative regulation of Initial Coin Offering”, published on February 16, 2018, is a continuation of the initial recommendations on the legislative regulation of ICO, which were published in September 2017. The purpose of these recommendations of the Swiss Financial Market Supervisory Authority is to inform future and existing market participants about how FINMA intends to...
Earlier in our articles, we have already considered what Initial Coin Offering is. However, we remind that the Initial Coin Offering (ICO) is a popular method among start-ups and other companies to raise capital. Investors participate in the collection of financial resources by transferring funds to the issuer in official currencies such as dollar, euro, yuan, etc. or in cryptocurrencies, for example, Bitcoins or Ethers, in exchange for digital tokens (Tokens, electronic coins). It is Tokens that confirm the rights of the holder to receive profit or the fulfillment of obligations on the part of the issuer. In addition, Tokens can be used to pay for services/goods of the issuing company. In contrast to the initial public offering (IPO), usually Tokens do not represent an ownership interest or receipt of dividends from the issuing company. Investors who participate in the ICO often expect to profit from the development of the activities of the company in the future, or play at increasing the value of Tokens (probably the brightest example at the moment is the rise in the price of Bitcoin).
Like all cryptocurrencies, Tokens are based on Blockchain (distributed ledger technology,...