Top Upcoming ICO participant raised $21M in 11 minutes

SelfKey, participant of our weekly ICO review, reached hardcap in 11 minutes instead of planned 17 days
15 January 2018   1215

As you all know, we write about the most interesting ICO campaigns, that are going to start weekly. We choose every participant carefully from the waterfall of dozens of ICO in order to write only about the most interesting token sale campaigns. Additionally, we keep our eyes on the campaigns even when they start, and add the most interesting to the Top Ongoing ICO article. 

And today we would like to show you that we really know what we do. 

SelfKey is a Blockchain based digital identity system that allows individuals and companies to truly own, control and manage their digital identity, and instantly access Citizenship and Residency by Investment, Company Incorporation, Fintech Products, Token Sales, Exchanges and much more.

The idea is good and interesting. Lending page is nice and pretty, team looks professional too. And all this and more led to the great result!

SelfKey Raised $ 21 780 000 in 11 Minutes!

Guys planned to sell tokens till 31st of January, and $21.78M was the hardcap. 

The participation, support and feedback has been spectacular. On behalf of the entire SelfKey team, I would like to give you our sincere thanks for all the support shown since we publicly announced the project in early September 2017.
 

Edmund Lowell 

Founder, SelfKey

We are very happy with this fact and we will keep our eyes on the future of this interesting project.

Great start! Good Luck, SelfKey Team! 

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Singapore's Watchdog to Warn Crypto Exchanges and ICOs

MAS says it has cautioned the exchanges to seek authorization if trading digital tokens that are regulated under the Securities and Futures Act 
24 May 2018   43

The Monetary Authority of Singapore (MAS), which performs functions of country's central bank, warned eight local crypto exchanges about the inadmissibility of futures contracts trading and digital tokens with the properties of securities without proper authorization from the regulator. This is reported on the Coindesk.

MAS representatives note that if the tokens traded on Singapore exchanges have properties that allow them to be classified as assets subject to the Securities and Futures Act (SFA), the trade in such coins must be immediately terminated before the regulator is given permission to operate as a authorized financial market operator.

If the digital tokens constitute securities or futures contracts, the exchanges must immediately cease the trading of such digital tokens until they have been authorised as an approved exchange or recognised market operator by MAS.
 

Monetary Authority of Singapore

In addition, local organizers of initial coin offerings (ICO) have also been warned about the inadmissibility of raising funds in Singapore. According to the regulator, ICO-tokens are equity instruments in the assets of companies, and therefore fall within the scope of SFA.

If any digital token exchange, issuer or intermediary  breaches our securities laws, MAS will take firm action. The public should be aware that there is no regulatory safeguard if they choose to trade on unregulated digital token exchanges or invest in digital tokens that fall outside the remit of MAS' rules.
 

Lee Boon Ngiap

Assistant managing director, MAS

According to representatives of MAS, not only issuers of ICO-tokens, but also other platforms that are intermediaries in the exchange of such assets and contribute to their dissemination, can bear responsibility.