Under Uk law and according to the reforms introduced in parliament after the 2010 election, namely the Financial Services Act 2010 (FCA) ,The Financial Conduct Authority (FCA) is now the City's behavioural watchdog regulating the banks, stock markets etc and the Bank of England has also gained direct supervision for the whole of the banking system through its powerful Financial Policy Committee (FPC). As it stands currently, the FCA seeks to regulate exchange points where people sell or buy crypto currency with fiat. Consultation papers have suggested stricter AML (anti money laundering) and KYC (know your customer) laws. As to the issue of ICOs, you can be sure that if an ICO defrauds any one within the UK's jurisdiction, it is a crime under the common law and you can be liable both in criminal and civil court. If there's no fraud, then as it stands today, it is a grey area leaning towards legality (as there is no law/ direction banning it).
thank you for nice answer i do believe that most of uk company which got real product will never try to scam their investors Royal mint is example : they are on the way ico their coin to market
another question i just want to know : for now ICO should be ok with UK citizen but in case of FCA will follow SEC and want to change the law in the future . then they could chase back all previous ICO or not ?
Hi do you know any UK company did ICO ? is it legal for a UK company doing ICO or not ?
please help me advice
thank you very much
In the absence of guidance, look for organizations that would be antagonistic to what you aim to achieve. That would be the SEC in this case
even if you behaved as though this was a grey area in the UK, you could still run afoul of the SEC if you offer this/any unregistered security to American citizens. the UK and the US are bedmates when it comes to extradition, so if you were looking for people not to piss off, you would avoid doing anything to attract the attention of the SEC. A lot of this has to do with how the project is presented/ explained. You would go far not explicitly promising profit or dividends, even if there is a mechanism in the token/platfrom that might provide it.
"its a feature'
ok thanks for your information what about UK citizen ? if it still in grey should we offer them same as another country (not US)
Hi do you know any UK company did ICO ? is it legal for a UK company doing ICO or not ?
please help me advice
thank you very much
It still is in a grey area, in my opinion. There have been no major clarifications, like what the SEC has given in the USA. Plus, I don't think ICOs explicitly block out UK companies from subscribing. So they don't think they need to fear the UK regulators.
i see recently some ICO try avoid issue token for user in their country which i am not sure what reason behind
it also not see much UK company doing ICO
Post
Topic
BoardLegal
Re: is ICO legal in UK or not ?
by
lukas_exchanger
on 02/08/2017, 22:01:16 UTC
anyone can help please
Post
Topic
BoardLegal
is ICO legal in UK or not ?
by
lukas_exchanger
on 02/08/2017, 16:35:04 UTC
Hi do you know any UK company did ICO ? is it legal for a UK company doing ICO or not ?
please help me advice
thank you very much
Post
Topic
BoardCurrency exchange
Topic OP
need 30$ UQ, pay with PM
by
lukas_exchanger
on 02/09/2016, 14:29:30 UTC
i need 30$ UQ ( uquid.com) and can pay with PM or btc any one need pm please let me know
It hard to say and hard do believe if we give prediction about bitcoin price in next few month or next few year Bitcoin price will get impact by many element from market ( bitfinex recently is good example) Therefore, with this topic let we talk about changing price of bitcoin in next week or next few weeks
Let start with 2 simple question : Do you think bitcoin price will go up next week ? Can you give your price prediction ?
My point of views:
- Bitcoin price will go up and marked at 650$ next week
What about you think ?
it hard to come up to 650 but i think price will go up to 600$