BTSE to Launch Tokensale On Liquid Bitcoin Sidechain

BTSE offers spot and futures trading, loans and debit cards, and an OTC platform, it also has a joint mining venture with Blockstream
10 December 2019   435

BTSE exchange will hold a token sale on the Blockstream Liquid Bitcoin sidechain. The site intends to raise $ 50 million.

The minimum investment will be $ 150 thousand, The Block reported.

BTSE offers spot and futures trading, loans and debit cards, as well as an OTC platform. The exchange has a joint mining venture with Blockstream.

In 2020, BTSE intends to earn $ 103 million, and by the end of 2021, monthly volumes should reach $ 70 billion.

In the first three months after the token sale, the exchange will redeem tokens. She plans to burn 100 million coins and leave 100 million in the market.

Private token sale started back in October. The completion of the three-round campaign is scheduled for February 2020.

Malaysia to Regulate ICO and IEO

Rules says tokens can be distributed via venture capitalists and financial institutions without selling shares and without debt instruments
16 January 2020   104

In Malaysia, the procedure for initial coin offerings (ICO) and initial exchange offerings (IEO) has been established. The Malaysia Securities and Exchange Commission (SC) provided relevant guidance for participants in the digital asset industry.

According to the regulator, projects can distribute their tokens through venture capitalists and financial institutions without selling shares and without using debt instruments. It was also established the maximum limit on the amount of funds raised through ICO, which will be 100 million Malaysian ringgit or about $ 24.5 million. No special requirements for investors are provided, that is, both institutional and retail investors will be able to participate in such campaigns.

After the completion of sales, the regulator will monitor the spending of collected funds.

Digital tokens offering can provide another alternative fundraising avenue for early-stage entrepreneurs. This initiative supports Malaysia’s Shared Prosperity Vision 2030 (SPV2030) by supporting the growth of SMEs and micro businesses which are targeted to contribute 50% to Malaysia’s GDP. It also aligned with SPV2030’s aspiration to create 30% high technology Malaysian companies.

 

Datuk Syed Zaid Albar

Chairman of the SC

In addition, the rules for the functioning of IEO platforms were established. Such platforms, if they operate in the country, must independently register with the agency. In addition, they must carry out the necessary checks to verify the integrity of the issuer, as well as understand the capabilities and characteristics of the token they offer.

New regulations are expected to be established in Malaysia in the second half of this year. At the first stage, SC intends to cooperate with IEO platforms on the issue of identifying satisfactory issuers.