Hong Kong Watchdog to Implement New Limitations

New rules provide for tougher regulations in relation to the scope of ICO
18 December 2018   585

The Hong Kong Securities and Futures Commission (SFC) plans to introduce new rules for the cryptoindustry, reports Finance Magnates, citing the Japanese edition of the Nikkei.

In particular, if 10% of the assets of companies are contained in a cryptocurrency, then they should receive a special license from the SFC. Also, these firms will be able to offer cryptocurrency products only to qualified investors.

In addition, the new rules provide for tougher regulations in relation to the scope of ICO. Thus, the SFC intends to prohibit an ICO if the campaign initiator token was released less than 12 months before the start of the tokensale. Considering that the purpose of the ICO is precisely the launch of tokens, it is not known how this requirement will work in practice.

Recall that in November the SFC announced the rules for cryptocurrency funds.

KuCoin to Launch Spotlight IEO Platform

As reported by the KuCoin itself, information about the first tokensale will appear this week
21 March 2019   75

The KuCoin marketplace announced the launch of a platform for initial exchange offerings (IEO) called Spotlight.

The exchange's blog says that information about the first tokensale will appear this week. It is also known that tokens will be distributed according to the principle of first-come, first-served, that is, in the order of receipt of applications from investors. To purchase assets of new projects will use its own token exchange - KuCoin Shares (KCS).

In order to participate in the tokensale users will need to be verified. Some countries and regions will not be admitted to IEO on KuCoin.

After Binance conducted two extremely successful IEOs on the basis of its platform, BitTorrent and Fetch.ai, the analogue of Launchpad appeared on OKEx. Soon, Bittrex International announced the launch of its own IEO platform.