Singapore's Central Bank Outlines When ICOs Are and Aren't Securities

Singapore’s Central Bank Outlines When ICOs Are and Aren’t Securities

Singapore’s de facto central bank has published new guidelines on initial coin offerings (ICOs), outlining how token sales would be viewed under its securities laws. According to a Nov. 14 statement from the Monetary Authority of Singapore (MAS), tokens sold through the blockchain funding model may be considered securities under certain circumstances, citing Singapore’s Securities and Futures Act (SFA) as well as the Financial Advisers Act. The MAS said: "Offers or issues of digital tokens may be regulated by MAS if the digital tokens are capital markets products under the SFA. Capital markets products include any securities, futures contracts […]

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