Quote from: maritimo123 on March 14, 2018, 10:26:42 AM

Quote from: fahmp7 on March 14, 2018, 09:38:20 AM

"Yet,(...) the development of properties and operating commercial buildings by offering digital tokens that represent a share in the company, the regulator states that this would constitute securities under the SFA." e.i. Securities and Futures Act.
The above was already known in November 2017. Yet they waited 5 months to share it with coin holders

))
source: https://www.ccn.com/singapores-central-bank-issues-new-guidelines-ico-securities-laws/

FYI: REAL token do not represent a share in the company. They are payment/utility tokens to be used in the platform. There are some token holders like me that study the case and would have seen that immediately.

Well, in A GUIDE TO DIGITAL TOKEN OFFERINGS issued by Monetary Authority of Singapore under "Digital tokens which constitute capital markets products" we read:
"2.3.3 a unit in a collective investment scheme (CIS), where it represents a right or interest in a CIS, or an option to acquire a right or interest in a CIS. "
and
" Under section 2(1) of the SFA, a collective investment scheme is an arrangement in respect of any property bearing all of
the following characteristics:
 participants have no day-to-day control over management of the property;
 property is managed as a whole by or on behalf of a manager;
 participants contributions and profits or income of the arrangement from which payments are to be made to the
participants are pooled; and
 purpose or effect (or purported purpose or effect) of the arrangement is to enable participants to participate in or
receive profits, income or other payments or returns arising from acquisition, holding, management or disposal of, the
exercise of, the redemption of, or the expiry of any right, interest, title or benefit in the property or any part of the
property.
"

fahmp7

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