Monetary Authority of Singapore Unveils Updated Regulations for Cryptocurrency ICO • Liv…

Singapore’s central bank, the Monetary Authority of Singapore (MAS), recently published an update to the regulations for firms looking to conduct initial coin offerings (ICO) in the city-state. MAS says the updated guidelines cover both security and utility token sales as Singapore seeks to establish a firm presence in the developing cryptocurrency narrative in Southeast Asia.

Updated ICO Payments Framework

In a report titled “A Guide to Digital Token Offerings,” the MAS provided an updated set of guidelines for ICOs in the city-state. According to the new regulations, all token sales must include an offer plus a prospectus based on the existing provisions of the Securities and Futures Act (SFA).

Offers below $5 million or private sales to less than 50 persons are, however, exempt from the including prospectus. In both cases, the exemption only covers offers within 12 months.

The updated guidelines also include rules for ICO platform operators and other intermediaries such as…