Where to Launch Your ICO?
Updated on Thursday 21st December 2017
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The initial coin offering (ICO) designates a type of unregulated means of obtaining funds for starting a cryptocurrency business. During an ICO campaign, a part of the cryptocurrency is sold to the fund’s participants, usually in the form of bitcoin, the most popular type of virtual currency used at a global level. ICOs are used by companies and those interested in how to start a fund in a particular jurisdiction to raise capital in a fast manner.
ICO in Switzerland
Switzerland is one of the best destinations for investment purposes in the field of cryptocurrency. The country is currently working at developing a suitable legislation for cryptocurrency businesses, which are operating under the regulations of the Financial Market Supervisory Authority.
Although ICOs are not yet regulated under the local legislation, special procedures are established by the Swiss Code of Conduct, issued by the Crypto Valley Association in Zug.
ICO in the Netherlands
The Netherlands represents a top destination for financial activities, including for hedge fund startup businesses. Cryptocurrency sector became attractive for the investors operating in the Netherlands, but it is important to know that this industry is not regulated by the local institutions. Although ICOs can represent an attractive manner of raising capital, since the sector does not fall under the Dutch regulations, investors can’t benefit from guaranteed protection against the risks associated with this procedure.
ICO in Cyprus
Since the capital raising procedures through ICOs represent a new type of activity, most of the jurisdictions do not have a regulatory framework. However, this is not the case of Cypriot investments. In Cyprus, ICOs are regulated by numerous legal rules, as follows:
• Investment Services and Activities and Regulated Markets Law 2007;
• Prevention and Suppression of Money Laundering and Terrorist Financing Law 2007;
• Payment Services Law 2009;
• Electronic Money Law 2012.
Cyprus is one of the most representative jurisdictions for ICOs. In this sense, we mention that at the level of May 2017, more than $370 million were invested in this investment tool.
Other top destinations for ICOs are Singapore and Hong Kong, as well as Japan.
Foreign businessmen interested in ICOs or on how to start an investment fund in one of the above mentioned jurisdictions may contact our team of team of specialists for consultancy services.