01 Aug '17, 1pm

Singapore Central Bank: Token Sales May Be Subject to Securities Laws

Singapore's central bank has issued new statements on the offering of digital tokens, stating that some issuances may fall under its definition of a security. The Monetary Authority of Singapore (MAS) outlined its position on token sales – known more commonly as initial coin offerings, or ICOs – in a new statement published this morning. The regulator indicated that it considers some tokens as securities, depending on their underlying basis and the context of their issuance – a stance similar to the one expressed last week by the U.S. Securities and Exchange Commission. The MAS explained in its release: "MAS has observed that the function of digital tokens has evolved beyond just being a virtual currency. For example, digital tokens may represent ownership or a security interest over an issuer's assets or property. Such tokens may therefore be considered an offer of shares...

Full article: https://www.coindesk.com/singapore-central-bank-token-sal...

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