Hong Kong Watchdog to Implement New Limitations

New rules provide for tougher regulations in relation to the scope of ICO
18 December 2018   800

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.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   408

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.