VeChain and Jiangsu PE Co. to develop IoT equipment

VeChain partnered with Jiangsu Printed Electronics Co. in order to explore and cooperate towards solutions within blockchain-centric IoT equipment
21 December 2017   669

The VeChain Foundation, a non-profit entity established in Singapore, has announced on December 21 its partnership with Jiangsu Printed Electronics Co., Ltd., an integrated platform for improvement research, app development and investment in printed batteries founded in China.

At the moment of press, these are main market parameters of VeChain:

  • Average price: $1,52
  • Marketcap: $421 411 926
  • 24h volume: $55 795 300

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   53

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.