ICOs financial product, not securities, says Gibraltar government

Europe Gibraltar
Maciek Klimowicz
Written by Maciek Klimowicz

In a recently published white paper, Gibraltar’s government revealed new information about its plan to regulate ICOs. According to the paper, neither under Gibraltar nor UE law are most tokens considered securities but rather – financial products.

“In many cases, [tokens] represent the advance sale of products that entitle holders to access future networks or consume future services,” the authors stated in the paper.

Outlined in the paper were also the government’s plans to require Gibraltar ICO issuers to appoint supervisors for tokens sale whose responsibility would be to grant its compliance with the law.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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