Published on October 12th, 2017 | by bitcoin0
New Suggestions on ICO from Central Bank of Lithuania
Lithuana’s central bank has become the latest financial institution of its kind of release new guidance for those seeking to organize an initial coin offering (ICO) in the country.
It comes on the heels of similar statements from other central banks regarding the legal ramifications of such offerings.
On the question of ICOs, or the sales of cryptographic tokens commonly used to bootstrap a new blockchain network, the central bank outlined a number of national laws that could apply – depending on the characteristics of the project and the function of the token itself.
The central bank said that Lithuania’s laws regarding securities, crowdfunding, collective investment schemes and the offering of financial services more broadly could impact the blockchain use case, per the text of the position note.
“It should be noted that, when deciding on the application and scope of specific legislation of the Republic of Lithuania for specific ICO, the conditions of the relevant ICO should be analysed and assessed,” the document states.