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Gibraltar Aims To Become First To Legislate On ICOs

Law360, London (February 12, 2018, 5:56 PM GMT) -- Gibraltar's financial services watchdog said Monday it was drafting legislation to regulate initial coin offerings, which would make the British overseas territory the first jurisdiction to create dedicated rules for digital tokens.

The Gibraltar government and its financial overseer — the Gibraltar Financial Services Commission — said the country was developing rules to regulate the promotion, sale and distribution of digital tokens through ICOs, a type of offering in which blockchain technology-based startups raise capital by issuing digital tokens to buyers.

The proposal will be debated...
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