From the land down under: ICO in Australia

What happened?

AustralianAustralian regulators issued a big fat official ICO guide.

Can I see it?

Sure you can. Australian Securities and Investments Commission (ASIC) published the whole thing on its website.

So now I’ll know everything?

Not that fast. The guide is mostly covering “how to’s” and “what if’s” of ICO on Australian market. Although if you consider doing an ICO – in Australia or not – it’s worth reading to cover the basic.

What can we learn from Australian regulators?

  • Anyone with access to the internet can create or invest in an ICO.
  • In some cases, the ICO will only be subject to the general and consumer laws. In others, the ICO may be subject to the corporate laws. Check your legal grounds!
  • Crowd funding using an ICO is not the same as the ‘crowd-sourced funding’ (CSF) – the latter needs a financial services licence authorising to provide this service.

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