Regulatory Alerts2017-11-13
FSMA Communication on Initial Coin Offerings (ICOs)
The Belgian Financial Services and Markets Authority (FSMA) issued this communication to outline the regulatory framework and risks associated with Initial Coin Offerings (ICOs). The document specifies that various financial laws, including prospectus and anti-money laundering regulations, may apply to ICO issuers depending on the token's structure. It further warns investors that ICOs are highly risky, often unregulated, and susceptible to fraud, providing specific indicators to identify dubious projects.
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