UTRUST

[lobat999]

I think ICO will be all sold out before its deadline about 9 days from now. Congratulations UTRUST community.

[1715037348]

1715037348

[1715037348]

1715037348

[martinholly167]

On the site it is not clear how much more to sell tokens. Who knows? ICO may end in a few days.

Why its not clear? 500,000,000 - 422,237,572 = 77,762,428 tokens left.

Shouldn’t it be 500,000,000-422,237,572-50,000,000 for utrust-25,000,000 bounty =2,762,428 tokens still to sell. So ico should finish soon.

Nope, they are already included, please see the token distribution bar on their site : https://utrust.io/

[Vongola]

On the site it is not clear how much more to sell tokens. Who knows? ICO may end in a few days.

Why its not clear? 500,000,000 - 422,237,572 = 77,762,428 tokens left.

Shouldn’t it be 500,000,000-422,237,572-50,000,000 for utrust-25,000,000 bounty =2,762,428 tokens still to sell. So ico should finish soon.

Nope, they are already included, please see the token distribution bar on their site : https://utrust.io/

I agree with swami.ICO is near to reached hardcap. Once 2.7 million tokens sold it, this campaign finished. don't forget if 10% for dev and 5% for marketing and bounties

[Yasemin]

FINMA make the rules and we follow and therefore we are - as you say - regulated by them. We have KYC & AML in place and comply with all the current regulations laid upon us by them. More importantly, we have never stated anywhere that are partners or have any kind of partnership with them, so please stay true to the facts here.

This is not difficult to explain. Many ICOs that are located in Switzerland don't do KYC&AML and are not compliant to FINMA's regulations and therefore act in non-compliant manners. What this means for them in the future is anybody´s best guess.

Another hint is that Filipe is going to represent UTRUST in a conference in Switzerland very soon.

See the companies that are going there:
http://forums.theasianbanker.com/switzerland-wealth-innovation-tour/speakers

Regarding being registered as a financial payment provider or authority: Of course we are not yet, these registrations come hand in hand with large amounts that need to be paid and we are still in the fundraising stage at this point.

Hope this helps!

I am happy you replied very fast to the accusation about FINMA. This helps a lot, thanks!

[smartJEV]

Gratz, almost sold out.

[Sozialtourist]

FINMA make the rules and we follow and therefore we are - as you say - regulated by them. We have KYC & AML in place and comply with all the current regulations laid upon us by them. More importantly, we have never stated anywhere that are partners or have any kind of partnership with them, so please stay true to the facts here.

Wrong. You tell people to stay true to the facts while you are the one who is deciving investors by spreading incorrect information. See Finma regarding the "Regulatory treatment of initial coin offerings":

https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/4dokumentation/finma-aufsichtsmitteilungen/20170929-finma-aufsichtsmitteilung-04-2017.pdf?la=en

Under 2. Regulation:

ICOs are currently not governed by any specific regulation, either globally or in Switzerland.

Even though I am not an expert on FINMA regulation, I think you better should double-check that it is right what you are saying here. Otherwise, you just look like a Newbie who is FUDing around here.

"Lastly, FINMA clarified that even though the act of crowdfunding via token issuance may not be regulated as a financial activity, some other regulations could still be applicable:

- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)

[the_donald]

Gratz, almost sold out.

yep looks good. if it wasn't for the fork, this would already be sold out.

[bitcoin-shark]

I think ICO will be all sold out before its deadline about 9 days from now. Congratulations UTRUST community.

i think you are right approximately 2,762,428(on 500,000,000) tokens still remaining to sell,small amount so in my opinion ico will end for sure before deadline...

[FIEX]

FINMA make the rules and we follow and therefore we are - as you say - regulated by them. We have KYC & AML in place and comply with all the current regulations laid upon us by them. More importantly, we have never stated anywhere that are partners or have any kind of partnership with them, so please stay true to the facts here.

This is not difficult to explain. Many ICOs that are located in Switzerland don't do KYC&AML and are not compliant to FINMA's regulations and therefore act in non-compliant manners. What this means for them in the future is anybody´s best guess.

Another hint is that Filipe is going to represent UTRUST in a conference in Switzerland very soon.

See the companies that are going there:
http://forums.theasianbanker.com/switzerland-wealth-innovation-tour/speakers

Regarding being registered as a financial payment provider or authority: Of course we are not yet, these registrations come hand in hand with large amounts that need to be paid and we are still in the fundraising stage at this point.

Hope this helps!

I am happy you replied very fast to the accusation about FINMA. This helps a lot, thanks!

Indeed!
Good moderation! UTRUST is a great project with an excellent team.

Love it!

[pynetx]

Is it true that the demo platform will be ready by end of this year to some private marketplaces?

[mrsaint]

Even though I am not an expert on FINMA regulation, I think you better should double-check that it is right what you are saying here. Otherwise, you just look like a Newbie who is FUDing around here.

Honestly I am not worried how I look to you. I did share a link to the latest FINMA guidelines in which FINMA clearly stated that they do not regulate ICOs at this point. This stands in sharp contrast to what utrust has been trying to sell to us, repeatedly.

"Lastly, FINMA clarified that even though the act of crowdfunding via token issuance may not be regulated as a financial activity, some other regulations could still be applicable:

- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)

Please reread the quote. First, it reiterates that the ICO by itself is NOT REGULATED, as I said. And second, it differentiates that once a token becomes a payment instrument, regulations COULD apply. You are aware that, at this point, the utrust token is no such payment instrument. You may also remember that all of utrust's future planning is still subject to approval from FINMA (meaning they are not approved as of yet - and how could they, with hardly two weeks of company existance).

Still thinking I and others are spreading FUD? Well - did you notice how the "Regulated by FINMA" slogan just now disappeared from their homepage?    Instead we still see a huge "Featured in Yahoo" logo, which - surprise surprise - links to their own press release.

Before: https://imgur.com/a/wgndI
Now: https://imgur.com/a/IyJNn

Dear utrust, I am still waiting for your explanation: When I bought tokens during the pre-ICO, from whom did I purchase these tokens? Who was the company and where was it registered? And more importantly, what happens now with my tokens since the ICO is under a different company and under different terms and conditions which I did not agree on during the pre-ICO.

[Jeremy228]

Where it your team based?

[ParRus]

I think ICO will be all sold out before its deadline about 9 days from now. Congratulations UTRUST community.

i think you are right approximately 2,762,428(on 500,000,000) tokens still remaining to sell,small amount so in my opinion ico will end for sure before deadline...

similar project would indeed be very useful for humanity, low commissions, speed of transactions, security and confidentiality are the key advantages of this platform.

[SEELE^^01]

Where it your team based?

business is in switzterland and developement team in portugal.

@devs

why have you miraculously deleted the "approved from finma" logo on your website, now?

[Sozialtourist]

"Lastly, FINMA clarified that even though the act of crowdfunding via token issuance may not be regulated as a financial activity, some other regulations could still be applicable:

- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)

Please reread the quote. First, it reiterates that the ICO by itself is NOT REGULATED, as I said. And second, it differentiates that once a token becomes a payment instrument, regulations COULD apply. You are aware that, at this point, the utrust token is no such payment instrument. You may also remember that all of utrust's future planning is still subject to approval from FINMA (meaning they are not approved as of yet - and how could they, with hardly two weeks of company existance).

Still thinking I and others are spreading FUD? Well - did you notice how the "Regulated by FINMA" slogan just now disappeared from their homepage?    Instead we still see a huge "Featured in Yahoo" logo, which - surprise surprise - links to their own press release.

Before: https://imgur.com/a/wgndI
Now: https://imgur.com/a/IyJNn

Dear utrust, I am still waiting for your explanation: When I bought tokens during the pre-ICO, from whom did I purchased these tokens? Who was the company and where was it registered? And more importantly, what happens now with my tokens since the ICO is under a different company and under different terms and conditions which I did not agree on during the pre-ICO.

Well, I must admit that they deleted the "Regulated by FINMA" now, should have been announced here and explained.

But coming back to my quote. Don't you think you could argue that the Utrust token can be seen as a "payment instrument" and therefore would require AML and KYC obligations for the ICO?

[cantdecide]

Where it your team based?

business is in switzterland and developement team in portugal.

@devs

why have you miraculously deleted the "approved from finma" logo on your website, now?

That's something I also would like to know now...

[matjas]

Looks like they can even reach 10.000 backers before the end, this is a great spread among investors.

[Iruwen]

Still thinking I and others are spreading FUD? Well - did you notice how the "Regulated by FINMA" slogan just now disappeared from their homepage?    Instead we still see a huge "Featured in Yahoo" logo, which - surprise surprise - links to their own press release.

It wasn't my intention to spread FUD, I participated in the pre-ICO and was kind of worried about the red flags that have been raised since.
So they've either acknowledged the criticism now (although Kakumei just said it's all legit and pretty much called me a liar :\) or the FINMA was real quick in going after them.
I contacted them specifically because they had to info on their site. What did they expect, people dumping millions on their project without asking legitimate questions?

Anyway, on a positive note: they are a member of Crypto Valley (https://cryptovalley.swiss/member-directory/name/utrust/), although I'm not sure how much that means.
Looks like everybody can submit a request for a new entry here without providing any documentation: https://cryptovalley.swiss/member-directory/submit/

[Kakumei]

We are working on an updated version of the previous to avoid the confusion some users experienced. Rest assured we’re bringing the logos back but make sure we’re making it very clear that we are COMPLIANT with Swiss regulation and not partnering up with or are in any other way associated with, FINMA (apart from being a Swiss company).

To say they we are not more compliant than other ICOs is incorrect and a statement made by a person that will say anything to further his agenda. There are no regulations for ICOs, but crypto assets are considered real assets in Switzerland. As soon as they leave the blockchain you are by association regulated and in need for compliance. We understand how this can be misleading, which is why we are now changing the website. But again, you are automatically in need to be compliant if you as a company want to convert crypto currency obtained in e.g. an ICO.

Therefore, to say that there are no applicable regulations is simply incorrect.

Dear utrust, I am still waiting for your explanation: When I bought tokens during the pre-ICO, from whom did I purchase these tokens?

To my knowledge you have never contacted us to talk about your case, or at least I have never heard about it. Instead of spreading information carefully selected to further what feels like your personal agenda against us, you can contact us through the official channels (Telegram, Email) and we can talk about a solution for your case, if you are actually looking for a solution to your pre-ICO purchase.

[kentuckykid]

Nice work devs! I like your project