STO Weekly Review by Evercity 10–16.12.2018

Evercity
Evercity
Dec 17, 2018 · 2 min read

Main

⛓The People’s Bank of China (PBoC), the country’s central bank, has officially banned security token offerings (STO) in a continuation of its restrictive legislation governing digital currencies. The chief of Beijing’s Bureau of Financial Work, Huo Xuewen, has also reportedly issued a warning against STO promotion, saying: «I want to warn those who are promoting STO fundraising in Beijing. Don’t do it in Beijing. You will be kicked out if you do it».

🥇OpenFinance Network (OFN) has moved from beta to full trading functionality, becoming the first to launch a live, regulated security token trading platform in the United States. One of the security tokens available to trade at launch is Blockchain Capital (BCAP), a tokenized venture capital fund focused on digital assets. The OFN platform is available to accredited and non-accredited investors both in the U.S. and abroad. Its Investor Passport application serves as a one-time verification process allowing participants to invest based on their eligibility.

Projects
🥈Overstock’s security token exchange tZERO will go live in January — its first additional asset will be the tZERO equity tokens that the platform sold to more than 1,000 accredited investors in August (raising $134 million).

🇲🇹Malta-based exchange ZBX, a trading platform created by the team behind global crypto exchange ZB.com, is completing the required licensure process to list securities on its platform in 2019.

Regulations
🇸🇬The Monetary Authority of Singapore (MAS), the city-state’s central bank/financial regulator, has updated its guide for businesses looking to raise money through token offerings. In addition, the updated guide follows up on the finalization of the Payment Services Bill, which states that providers of and intermediaries in digital payment tokens will be required to be licensed and regulated for AML/CFT purposes only, and be required to put in place policies, procedures, and controls to address money laundering and terrorism financing risks.

🇧🇭Bahrain’s central bank has issued draft regulations on digital assets, Reuters reports Friday, Dec. 13. According to Reuters “the central bank said it had issued for consultation draft rules for crypto asset platform operators, providing regulations for the licensing and supervision of crypto asset services.” Bahrain’s central bank has reportedly stated that the proposed regulations include “measures to safeguard customer interests, technology standards, and cybersecurity risk management.”

Join Security Token Club: https://t.me/stoaccelerator

Evercity Blog

Smart city accelerator and venture crypto fund http://t.me/evercity

Evercity

Written by

Evercity

Evercity Blog

Smart city accelerator and venture crypto fund http://t.me/evercity

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