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ICO in Singapore in 2019

2019-01-09

Cryptocurrency is becoming increasingly popular. Over the past few years, Singapore’s primary coin supply market has been steadily growing. In this regard, the number of persons wishing to register a company in this jurisdiction is growing.

For more information on how to apply for Initial Coin Offering ICO in Singapore in 2019, it is recommended to contact IT-OFFSHORE specialists. We provide quality advice on choosing a country to register a specific type of business.

Six types of primary placement of coins

According to the latest data, more than 50% of the financing of the primary monetary offer is located in five jurisdictions - the United States of America, Canada, the United Kingdom, Switzerland and Singapore. According to statistics, funding has recently been increased more than 40 times.

It can be said that ICO in Singapore in 2019 has a significant development trend, since this jurisdiction has become the center of placement of coins in Asia. This is due to the result of collaboration with MAS.

Recently there was information that one of the departments of jurisdiction clarified information when Initial Coin Offering falls within the norms of the laws on securities and regulates the work of companies operating with cryptocurrency.

In total, MAS identifies six types of initial placement of coins, which can be analyzed in detail by examples:

- A. The company wants to make a platform for sharing computing power among users. She plans to implement digital markers, or tokens to get funds that will be used to improve the platform. Token will provide an opportunity to use the platform. With a marker you can pay for power. The token has no rights associated with it. The company offers tokens to any person, including in the jurisdiction where it is registered.
- B. The company is working in the direction of real estate. She wants to start raising funds to create a shopping center, offering markers to absolutely any individual, including in the jurisdiction where she is registered. The token will be structured to provide parts to the company.
- C. The company offers tokens to everyone. The company combines the funds received from the proposal, and directs finance to invest in shares. Subsequently, the company manages the portfolio of these shares. Owners of tokens do not have authority related to the operation of the company. Profit is distributed among the owners of tokens.
- D. The proposals of the organization are not available to persons in the jurisdiction of registration. It combines the finances derived from the proposal and invests money in the portfolios of new companies. Subsequently, she manages a stock portfolio. Profit is distributed among holders of tokens.
- E. The company creates a platform that allows new startups to attract investments through digital subscribers. To facilitate the proposal, the company creates a new enterprise, which will be used as a vehicle for investment in a new project. Investors who invest in the development of the project, give credit. Then investors are provided with digital markers. The company’s tokens are offered to everyone, including those in Singapore.
- F. The company creates a platform for the exchange of cryptocurrencies that do not apply to securities. At first, the platform will function in such a way that the sale of digital tokens like securities will not be opened. Then this ban can be lifted.

Depending on the specifics of activities at the ICO in Singapore, licenses may be required. There are such license options - for servicing capital markets and a financial advisor. Additional permissions may be required.

For quality advice on ICO issues in Singapore, we recommend contacting IT-OFFSHORE specialists. We will select the necessary jurisdiction for business development, we will provide legal assistance.