The Monetary Authority of Singapore (MAS) has released farther “clarification” of its seat on ICO tokens, quest investors to “exercise due diligence.”
A circular published Th follows a like annunciation Aug. 1, inwards which the regulator signaled an mental attitude to tokens echoing what was position frontward yesteryear the U.S.A. Securities too Exchanges Commission.
“Consumers should arrive a indicate to sympathise the product,” the latest update reads.
“Where sellers of digital tokens neglect to highlight the risks, consumers should brand the endeavor to honor out to a greater extent than information most the underlying project, draw organisation or assets.”
MAS follows alongside a listing of half dozen “risks” peculiarly pertinent to ICO tokens which consumers should accept into draw organisation human relationship when deciding to invest.
In draw alongside previous literature, MAS 1 time to a greater extent than resists warning most whatsoever blanket restrictions on the horizon for tokens, alongside a case-by-case footing inwards role to decide whether a specific token constitutes a security.
“The CAD (Commercial Affairs Department) too the MAS advise consumers to hold upwards mindful of potential risks of digital token too virtual currency-related investment schemes,” it adds.
Addy Crezee, CEO at BlockShow yesteryear the Cointelegraph, organizing BlockShow Asia 2017 powered yesteryear Cointelegraph inwards Singapore on Nov 29-30, comments:
“As experts inwards the community suggest, forthwith at that topographic point volition hold upwards to a greater extent than too to a greater extent than such warning alerts from regulators, letting players know that real before long the rule volition come. Unfortunately, fortunately, this volition hold upwards shown alongside time, exclusively regulators are able to convey gild too security at a given fourth dimension into the manufacture too I would advise everyone to listen these signals too laissez passer on fourth dimension to develop for the ICO inwards an axial way.”
The note regarding the SEC statements meanwhile is diverging amidst manufacture participants, alongside 1 source this calendar week voicing dismay equally to why others “were non equally concerned” most the comments’ potential meaning.
