UAE Approves Plans to Regulate ICO Tokens as Securities

[kreslik.news]

The UAE’s financial regulator is taking the final steps to regulate the way that blockchain start-ups are raising money, or ICOs, but has warned of the many risks involved. The watchdog is proposing a fit-for-purpose regulatory framework that effectively recognizes digital tokens as securities.

Specifically, the UAE’s Securities and Commodities Authority (SCA) today has approved a plan setting out its proposed framework to regulate crypto asset activities, including ICOs, exchanges and other intermediaries.

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According to the SCA’s statement, the new regulations, which come into effect shortly, also address the ... (read more)