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ICOs and the Evolving role of the Regulator

ICOs and the Evolving role of the Regulator

Initial Coin Offerings (ICOs) as an alternative means of fund raising have gained substantial growth globally in the last two years driven by the increasing popularity of distributed ledger technology and cryptocurrencies such as the Bitcoin and Ethereum.

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With ICOs (a digital means of raising funds using distributed ledger technology and which involves the sale of digital “tokens” or “coins”) gaining increasing attention across the world, regulators are becoming more actively involved and are taking a pragmatic approach to ICOs. There is a recognised need to strike a balance between protecting consumers from the potential risks and promoting an environment where digital innovation thrives. 

This article takes an indicative look at how the regulatory landscape has evolved over the last two years, considering selected jurisdictions based on publicly available information. It also highlights key matters from the Guidance Note recently issued by the Jersey Financial Services Commission on the application process for Issuers of ICOs in Jersey. 

To access the full article, click on the PDFs below.

 

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