ICO settlement in Singapore

We continue our series of posts on ICO settlement in different countries.

Previous post about Russia here: https://bria.news/en/details/45

And about the US here: https://bria.news/en/details/50

Today we are covering Singapore, which is called the capital of ICO.

Progressive city-state in every way supports any technological blockchain projects. In the summer of 2017, the MAS (Singapore Monetary Authority) equated tokens with securities, and also reserved the right to act as a regulator for some ICOs.

In November 2017, the MAS published information on cases where the ICO falls under the rules of law:

— Tokens can be a product of the capital market, if turnover period is more than one year. The capital market includes bank loans, stocks, bonds and so on. Such tokens are regulated in accordance with the Securities and Futures Act (SFA) and the Financial Advisers Act (FAA).

— Investment fund tokens. Institutions through which individuals can collectively invest are equated to securities and are regulated in accordance with the SFA.

— Tokens for sharing computing power are not regulated, since they are not considered as securities.

— If the number of tokens is less than 5 million Singapore dollars, they are not regulated by laws. In this case, all tokens fall under the law on antiterrorism and money laundering.

To summarize, the law is designed to protect private investors by removing scam projects. The state’s interest is only to see more technological projects appear on their territory. Countries that want to develop ICO, too, will have to follow Singapore’s example, eitherwise experts from all over the world will go to this modern city-state.