Filecoin to Unveil Tesnet Launch Date

Filecoin ICO was one of the largetst in the history - team was able to raise that time record high $257M back in 2017
25 September 2019   630

The developers of the Filecoin protocol updated the project’s roadmap, according to which the test network will be launched on December 11.

We are not yet announcing a mainnet launch date, but we expect it to be 1-2 quarters after our testnet launch. We will post the exact launch date in Q1 2020.
 

Filecoin Team

The indicated deadlines are optimistic and may be adjusted, the developers added. They also said that a roadmap update is made every two quarters.

Earlier, the launch of the main network was announced by Filecoin representatives in mid-2019.

The Filecoin project has been implemented by the California Protocol Labs since 2014. Its goal is to create an effective data storage solution based on the IPFS (InterPlanetary File System) decentralized network protocol.

In 2017, during the first ever regulated ICO, the project raised a record $ 257 million at that time.

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   113

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.