French regulator launches ICO support project "UNICORN"

France's financial regulator launches a new initiative focused on ICOs
27 October 2017   2269

France's financial regulator, The Autorité des marchés financiers (AMF), launches a new initiative focused on iICOs. The AMF reports that it is considering one of several approaches, including an update to existing rules to account for ICOs or entirely new regulations around the use case.

The Autorité des marchés financiers press release
The Autorité des marchés financiers press release

The project called "UNICORN" aims at providing a mechanism for ICO organizers in France to carry out their plans under the agency's guidance.

Called UNICORN (for "Universal Node to ICO Research & Network"), this one, in parallel of the reflection on the possible tracks of regulation, aims at offering to these carriers of projects a frame allowing the development of their operations and to ensure the protection of actors and investors wishing to participate.
 

The AMF statement
Translated by coindesk.com

With the move, France's government appears to have adopted a more accommodative stance toward the blockchain use case, even going as far as to proactively encourage developer teams to get in touch. 

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   993

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.