OAX Project Statement — Evolving Regulation
We have received questions from the community about recent regulatory announcements in China, South Korea and other markets regarding ICO/Token Sale projects. OAX and the Foundation welcome regulation, as it aims to remove uncertainty from the market and is the first necessary step toward legitimacy for the cryptocurrency space.
The Open ANX Foundation is a non profit entity incorporated in Hong Kong, and was advised by several legal firms; for example:
King & Wood Mallesons (KWM) has advised the Open ANX Foundation Limited as Hong Kong and PRC counsel on its initial…www.kwm.com
We actively monitor updates from regulators, and endeavour to comply with all relevant laws and regulations. As seen in China, some jurisdictions are evolving their policies. The foundation will take such steps as necessary to remain compliant as and when clarity and details are available on the revised policies.
We expect our project to continue as per the roadmap recently released, see below: