GuestPosts.Biz
ONLY webinars - visit onlywebinars.com ONLY webinars - visit onlywebinars.com
Advanced Search
Home / Features / SCA issues circular warning investors against digital, token-based fundraising activities
Special Features

SCA issues circular warning investors against digital, token-based fundraising activities

The Securities and Commodities Authority, SCA, has raised the alarm about all digital, token-based fundraising activities or investment schemes in the UAE, whether referred to as initial coin offerings, ICOs, initial token offerings, token presale, or token crowdsale. In a statement, the Authority said that digital tokens are sold to investors in ICOs in exchange for cryptocurrencies. It further explained that ICO terms and features are case-specific, and so is the nature of rights and interests acquired by investors, if any, indicating that ICOs are highly speculative and highly volatile regarding prices.

The SCA urged investors to be fully aware of the risks associated with ICO investments. It reiterated that it does not recognise, regulate, or supervise any ICO presently and that ICO investments are not offered legal or regulatory protection. It went on to say that investors involved in ICO investments are doing so at their own risk.

The Authority called upon digital token issuers, intermediaries advising on or facilitating digital token offerings, and digital token trading platforms to seek legal and regulatory advice to ensure compliance with all the applicable laws and regulations.

SCA added that it has recently formed a fintech team assigned to facilitate implementing fintech initiatives and keeping up with the latest developments.



We accept Guest Posts



  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     


View Special Features by Category
Airlines & Airports
Art & Gallery
Banks & Financial sector
Business
Car Industry
Construction
Dubai Government
Dubai Metro
E-Guides
Eco-Friendly
Education & Institutions
Electronics
Entertainment
Events & Occassions
Exhibition Center
Family Shows
Food & Beverages
Free Zones
Golf Clubs
Government Departments
Health & Fitness
History & Culture
Home/Furnishing/Interiors
Hospitals & Clinics
Hotels & Hospitality
Identity cards
Internet Services
Media & News
Mortgage
Music
Online Food Service
Online Store
Organisations
Other
Other Emirates
Parks & Beaches
Precious Metals
Real Estate & Property
Religion & Culture
Resorts & Clubs
Restaurants
Shopping Malls
Spas
Special Centres, Groups & Communities
Sports & Events
Sports Bars
Technology
Things To Do
Trade Fair
Travel & Leisure
UAE Market News
VIP Services
Wedding Planners

Back to top







News Alerts
News Alerts
Stay ahead with abu dhabi news
dcg mobile
adcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Abu Dhabi Blog
Your space, your voice
sitemap
Sitemap
ADCG at a glance