The success of a Security Token Offering (STO) or of an Initial Coin Offering (ICO) project depends on various factors. One of the most important is the legal assessment of the project.
What is an ICO legal management ?
The industry of Blockchain seems quite unregulated, but countries are constantly trying to exert more control on then. Recently, for instance, both France and Switzerland organized the previously unregulated ICO market.
In France, the creation of this regime was inserted in the 2019 version of the loi “Pacte-Dutreuil” – a fiscal regime set to facilitate the company and commercial activities survival – articles 26 and following1)http://www.assemblee-nationale.fr/15/ta/ta0179.asp.
This marks the creation of a French regime for token offers and Initial Coin Offerings (or “Initial Token Offering“), i.e. fundraising via a shared recording device (in particular using the so-called “blockchain” technology) via the issuance of digital “tokens”. The special situation for the cryptos regime is especially marked by a fiscally oppressive situation. The French financial authority is also given much larger powers. Even more recently, the ICO became even more regulated through a hard qualification of all token as financial assets.
In the Helvetic Confederation (the actual name of Switzerland), the ICO is regulated by the FINMA2)https://www.finma.ch/en/authorisation/fintech/, the local financial authority. It has recently updated is cryptocurrency and crypto market policies, changing a few elements. This updated has gained little attention for the markets, but undeservingly so.
Start a cryptocurrency business
Starting a cryptocurrency business is not complicated if you are well adviced, the success of such venture is almost guaranteed considering how you are legaly assisted.
When dealing with other people’s money it’s crucial to make sure that the STO or ICO project is not breaking any laws every step of the way. With our STO and ICO legal advice we help Blockchain, STOs and ICOs projects avoiding legal issues that can compromise the entire activities.
Eternos Corporation is already working with entrepreneurs and cryptopreneurs to ensure their legal regime protects both their and their clients interests such as CEX helping them to get their FinCEN registration3)https://www.fincen.gov/money-services-business-msb-registration and forming their compliance officers.
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