United Arab Emirates to Approve ICOs as ‘Securities’ in 2019 to Boost Corporate

[oksgvardukraine2018]

United Arab Emirates to Approve ICOs as ‘Securities’ in 2019 to Boost Corporate Funding

The United Arab Emirates (UAE) is pressing ahead with plans to introduce initial coin offerings (ICOs) as means toward fundraising for companies and startups in 2019.

In an effort to boost financing in capital markets, the UAE will enable domestic companies to raise funding by offering cryptocurrency tokens to investors alongside traditional means like shares issued in an initial public offering (IPO), Reuters reported.

Specifically, ICOs will be considered as ‘securities’ by authorities under regulations, currently in draft, enforced early in 2019.

Speaking at a seminar, UAE securities market watchdog chief Omar Saif al-Zaabi said:

“The board of the Emirates Securities & Commodities Authority [ESCA] has approved considering ICOs as securities. As per our plan, we should have regulations on the ground in the first half of 2019.”

The ESCA is currently drafting ICO regulations with unnamed intentional advisers. The watchdog is notably working alongside Abu Dhabi and Dubai stock markets to develop crypto-friendly trading platforms to support ICOs, the official added.

Nearly a year ago to the day, Abu Dhabi – the UAE’s largest emirate – issued guidelines on cryptocurrencies and ICOs, regulating the latter as ‘securities’. Cryptocurrencies, while not classified as legal tender, are considered commodities by the government of Abu Dhabi.

The report suggests that a combination of low oil prices and laboring equity markets over several years has ‘severely’ dented IPOs, dealing a blow for domestic companies looking to raise finances in the UAE and wider Gulf region.
https://www.ccn.com/united-arab-emirates-to-approve-icos-as-securities-in-2019-to-boost-corporate-funding/

[vasilev456]

Emirates, too, do not stand still, and I see they work more progressively than many other countries!

[paxmao]

The regional governments in the Middle East have been particularly receptive to these new technologies that are going to greatly contribute to propelling the local business hubs. Securities are next.

[zhanyiguai261315]

The process of legalizing cryptocurrencies is irreversible!
Blockchain technology will change the way people live and work in the future, and the impact on society will be limitless!

[Bitcotalk]

United Arab Emirates to Approve ICOs as ‘Securities’ in 2019 to Boost Corporate Funding

The United Arab Emirates (UAE) is pressing ahead with plans to introduce initial coin offerings (ICOs) as means toward fundraising for companies and startups in 2019.

In an effort to boost financing in capital markets, the UAE will enable domestic companies to raise funding by offering cryptocurrency tokens to investors alongside traditional means like shares issued in an initial public offering (IPO), Reuters reported.

Specifically, ICOs will be considered as ‘securities’ by authorities under regulations, currently in draft, enforced early in 2019.

Speaking at a seminar, UAE securities market watchdog chief Omar Saif al-Zaabi said:

“The board of the Emirates Securities & Commodities Authority [ESCA] has approved considering ICOs as securities. As per our plan, we should have regulations on the ground in the first half of 2019.”

The ESCA is currently drafting ICO regulations with unnamed intentional advisers. The watchdog is notably working alongside Abu Dhabi and Dubai stock markets to develop crypto-friendly trading platforms to support ICOs, the official added.

Nearly a year ago to the day, Abu Dhabi – the UAE’s largest emirate – issued guidelines on cryptocurrencies and ICOs, regulating the latter as ‘securities’. Cryptocurrencies, while not classified as legal tender, are considered commodities by the government of Abu Dhabi.

The report suggests that a combination of low oil prices and laboring equity markets over several years has ‘severely’ dented IPOs, dealing a blow for domestic companies looking to raise finances in the UAE and wider Gulf region.
https://www.ccn.com/united-arab-emirates-to-approve-icos-as-securities-in-2019-to-boost-corporate-funding/

Arabic continent has so much money that if we can somehow manage to make it a bigger deal in that peninsula I am pretty sure bitcoin and all the other crypto currencies can get to an insane level all together.

However it would require some sort of change of words because the idea of money that is decentralized and free from all regulations kind of not stands very well with that part of the world, mostly rich people are rich because everything was centralized, now letting everyone have their "own" money seems a bit sudden change for them. Maybe if we could reword it well than we can get it bigger.

[squog]

This is good news if UAE actually is starting to opening their doors to crypto currency. "Securities" as they claim it is a great start. I just hope that in that land, we will see more uses of it not not be tight *ssed about it and simply just remain as "securities" to prop up their failing economy. Then again, it'll all be thanks to crypto currencies.