Government of Singapore Supports ICOs with logical necessary Caveats!

[MWalk]

The below five points come from a recent statement (10/03/17) issued by MAS (Money Authority Singapore) on the subject of ICOs:

It seems to me that their position is favorable with logically necessary caveats!

1. ICOs are financial activities that falls under MAS’ regulatory ambit.
2. On 1 August 2017, MAS clarified that if tokens are structured in the form of securities, the ICO must comply with existing securities laws aimed at safeguarding investors’ interest.
3. ICOs must meet the requirements of having to register a prospectus and obtain intermediary or exchange operator licences.
4. ICOs must also comply with existing rules on anti-money laundering and countering terrorism financing.
5. MAS has not issued new legislation specifically for ICOs, but will continue to monitor the developments of such offers, and consider more targeted legislation if necessary.

http://www.lattice80.com/2017/10/10/initial-coin-offerings-icos-in-singapore/

[ahmad21]

The below five points come from a recent statement (10/03/17) issued by MAS (Money Authority Singapore) on the subject of ICOs:

It seems to me that their position is favorable with logically necessary caveats!

1. ICOs are financial activities that falls under MAS’ regulatory ambit.
2. On 1 August 2017, MAS clarified that if tokens are structured in the form of securities, the ICO must comply with existing securities laws aimed at safeguarding investors’ interest.
3. ICOs must meet the requirements of having to register a prospectus and obtain intermediary or exchange operator licences.
4. ICOs must also comply with existing rules on anti-money laundering and countering terrorism financing.
5. MAS has not issued new legislation specifically for ICOs, but will continue to monitor the developments of such offers, and consider more targeted legislation if necessary.

http://www.lattice80.com/2017/10/10/initial-coin-offerings-icos-in-singapore/

A good move by singapore govt. But I am curious to see how far they would be able to regulate such stuff because unlike share market everything is not at all transparent here. Its difficult to make ICOs comply with all the new regulations.