Abu Dhabi Markets Regulator Publishes ICO Guidance

Abu Dhabi Markets Regulator Publishes ICO Guidance

The government of Abu Dhabi has released new guidelines for those looking to organize or participate in an initial coin offering (ICO). Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA) said that it would apply existing anti-money laundering and know-your-customer (KYC) rules to token sales, classifying some as securities (depending on their makeup and underlying structure) and others as commodities. Like a growing number of regulators worldwide, the agency said that it would weigh the sale and release of blockchain-based tokens on a case-by-case basis. The nine-page circular published yesterday includes instances in which a token sale would […]

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