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Cryptocurrencies

Abu Dhabi's financial regulators issue regulatory guidance on ICOs

Thursday 12 October 2017 | 12:37 PM CET

Abu Dhabi`s Financial Services Regulatory Authority (FSRA) has issued guidance on Initial Coin Offerings (ICOs) and virtual currencies.

The FSRA noted that ICOs do not always fit into existing regulatory classifications and urged market participants using ICOs to approach FSRA as early as possible in their fundraising lifecycle to determine a proportionate and appropriate treatment within the regulatory regime.

The guidance outlines the regulatory treatment of tokens deemed to be securities as well as when they are not deemed to be securities. Furthermore, the document advises potential investors to exercise extreme caution before committing any funds in unregulated.

More: Link
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