Dubai Issues Warning on ICOs

Dubai Financial Services Authority has issued a warning on initial coin offerings
14 September 2017   647

In today's statement, the Dubai Financial Services Authority (DFSA) joined the latest markets regulator to urge caution to prospective investors. This is reported by the CoinDesk.

It worth noting that the DFSA reported that it "does not currently regulate these types of product offerings" or give licenses to companies within the Dubai International Financial Centre – a special economic zone within Dubai that the DFSA oversees – that offer such products or services.

The DFSA wishes to highlight that these types of product offerings, and the systems and technology that support them, are complex. They have their own unique risks, which may not be easy to identify or understand; such risks may increase where offerings are made on a cross-border basis. These offerings should be regarded as high-risk investments.

The DFSA announcement

There is no information about any further steps of DFSA about regulation of any kind related activity inside the economic zone.

The latest statement only focus on the risk to possible investors, and do not offer any insight into whether the agency believes ICO tokens may be securities, a finding which would put its guidance in line with other regulators internationally. 

Qvolta is launching its platform

Qvolta announced its platform release date of April 2 that will feature a full-fledged version of a web platform
24 March 2018   39

Qvolta platform has set its release date to April 2. The release is in accordance with the roadmap of the platform and will include a fully functional version of the web platform. The developers team is currently performing various tests and making final amendments to ensure the proper functionality. This desktop client is in alpha stage. A mobile app for secure authorizations is out and it is the native solution for security without intermediaries.

Qvolta is a P2P exchange platform solution that focuses on the capability of trading Bitcoin and Ethereum for fiat currencies and vice versa. And such functionality is provided through local payment methods. Since centralized exchanges become the target of serious scrutiny of regulators, cryptocurrency platforms that allow trading P2P or in fully decentralized fashion are getting more necessary.

As of the moment of the publication, the market parameters of Qvolta are as follows:

Average price: $0.390836

Market cap: $2,712,466

Volume (24h): $6,171