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Initial coin offering legality

Binary Options Trading Sep 4, 2017 The wording of the People's Bank of China's edict suggests all cryptocurrency activity is illegal, an eToro China exec tells Business Insider.Oct 31, 2017 SEBI examining whether regulation possible under current laws or fresh powers needed. The rising popularity of crypto currencies and the increasing number of entities looking at raising funds through Initial Coin Offerings (ICO) has caught the attention of the capital market regulator, which is evaluating  x token sales Marco Santori leads Cooley's fintech practice, and is an authority in the law of blockchain technology. He is an author of the SAFT Project whitepaper, the Legal Ambassador for the Delaware Blockchain Initiative, and an advisor to the International Monetary Fund. Called “The Dean of Digital Currency Lawyers” by an Dec 18, 2017 Since we first published this guide to the legality of initial coin offerings (ICOs) in various countries, there has been a hardening of opinions on the acceptability of the risks involved in this investment opportunity. While bitcoin's historic price spike continues with no signs of abating, China and South Korea's  blockchain crowdfunding locations Sep 9, 2017 China recently banned initial coin offerings (ICO) and briefly paused the seemingly unstoppable price increase of bitcoin. But the China Bans Initial Coin Offerings, Warning Of Financial Scams. The initial coin The terms and conditions, business model, and legal framework are setup by the ICO itself.

Aug 25, 2017 First, a disclaimer: My opinion is not legal advice. I am not a lawyer. This in no way should be considered legal advice, and my views do not represent the views of my employer, investors, or partners. Moreover, nothing written here should be construed as investment advice either, and with that out of the Dec 21, 2017 What have Initial Coin Offerings, Digital Tokens and Virtual Currencies got to do with investments? If you have been puzzling over terms like digital, virtual or cryptographic currencies, or digital tokens, or initial coin offerings and wondered what these terms mean, you may like to find out more here. Oct 16, 2017 Today/ offers immediate exposure for ICOs(Initial Coin Offerings), crypto coins/assets, wallets, digital cryptocurrency market exchanges, and startups to economist,initial coin offering equity,initial coin offering exchange,initial coin offering ico,initial coin offering india,initial coin offering illegal,initial coin  ico list in the world Jul 28, 2017 The US Securities and Exchange Commission (SEC) has just issued a report warning that Initial Coin Offerings (ICOs) may be deemed to be securities, making them subject to United States' securities laws. This will depend on the economic realities of the transaction (is it an investment transaction for Sep 5, 2017 The collapse seems to have been triggered by a ruling from the Chinese central bank that declared it illegal to raise money through launching new cryptocurrencies. An initial coin offering (ICO) is a relatively recent innovation for cryptocurrency developers, and involves selling a number of cryptographic 

Oct 13, 2017 It has been a while since the name “Bitcoin” first appeared on mainstream media in… Business and Financial Law News. January 18, 2018 Federal Tax Clinic Wins Case to Relieve Client's Debt. November 27, 2017 Experts Discuss Compliance Issues in United States and Brazil. November 15, 2017 John Sep 4, 2017 China on Monday banned and deemed illegal the practice of raising funds through launches of token-based digital currencies. The move was targeted at so-called initial coin offerings (ICO) in a market that has exploded since the start of the year. ICOs have become a bonanza for digital currency  Initial Coin Offering: Experienced lawyers accompany your ICO project and offer comprehensive advice on questions of regulatory law. custom arena tokens gw2 Jun 27, 2017 I firstly wish to reject the use of a term “initial coin offering” or “ICO” in this article and I propose that it should be rejected in general when it comes to discussing token offerings. The term ICO was created by sales and marketing groups and not by lawyers. Inspiration for the term was obviously drawn from Jul 20, 2017 Initial Coin Offering (ICO) is one of the legally murky aspects of the crypto world. An ICO is used by business people and developers to collect money from people who are keen on investing in a new venture. Interested investors usually send bitcoins to the development team that is making the ICO in 

Sep 29, 2017 The Australian Securities and Investment Commission (ASIC) has finally issued guidance to explain how “initial coin offerings” (ICOs) will be regulated. ICOs are a form of ICOs were declared an unauthorised public financing activity, involving illegal fundraising, financial fraud, and pyramid schemes.ICO. Accepting cryptocurrency tokens - they are volatile - difficult to establish monetary value as it fluctuates. They also sit outside the default financial system and voluntary asking for taxation seem controversial. Rather than setting a precedent in dealing with HMRC (equivalent of IRS) a better option could  The emergence of digital currencies and blockchain technology has now paved the way for various blockchain-based companies to raise billions of dollars by initial coin offerings (“ICOs”). An ICO occurs when a company sells digital tokens or existing digital coins (such as bitcoin or ether) to investors who are willing to buy  b blockchain crowdfunding platforms Sep 17, 2017 China recently announced to ban ICOs in their country immediately, declaring them illegal and a threat to financial stability. But also regulatory . “The initial coin offering is a new business model leveraging blockchain technology and it will remain,” “This is not the end of the ICO – absolutely not.” Oliver Apr 6, 2017 An Initial Coin Offering (ICO) is a process, during which a company raises funds by issuing new cryptocurrency coins. are still somewhat in the process of trying to understand the technology and the legal ramifications better and only Switzerland and Singapore have issued dedicated Token regulation.

As initial coin offerings grow, so do cryptocurrency scams

We have all seen or heard the sensationalized headlines about Initial Coin Offerings, or ICOs. But what exactly are these events? Will they really disrupt venture capital as a means to fund development? Are they a sign of an economic bubble, or is there something truly worth considering under the surface? In this paper, we  w icon on snapchat Oct 2, 2017 Reply to Parliamentary Question on the prevalence use of cryptocurrency in Singapore and measures to regulate cryptocurrency and Initial Coin Offerings. QUESTIONS NO 1494. NOTICE PAPER 869 OF 2017. FOR WRITTEN ANSWER. Date: For Parliament Sitting on 2 October 2017. Name and May 23, 2017 Over the past two years companies have raised ~$440 million through Initial Coin Offerings (ICO), or selling new blockchain based “coins” they create. CoinList and the SAFT aim to streamline US securities regulatory compliance and make it easy for companies to legally accept money from US investors  Nov 17, 2017 Founders and venture capitalists have identified the startups and top initial coin offerings (ICOs) that they think will have the biggest impact heading into 2018. With increased challenges This saves the tenant and landlord time and money, while expediting the legal agreements between parties. Moreover 

Sep 20, 2017 - 8 min - Uploaded by Bitcoin LecturesWhat considerations are there under Swiss Law when you contemplate an Initial Coin crypto ico 69 Aug 4, 2017 If of interest, link: Thoughts on the Saft Part II: SAFT Harder This week in Initial Coin Offering ("ICO") land brings us the first publicly-acknowledged SAFT The SEC concluded that the DAO token sale was a sale of securities/investment contracts and subject to American securities laws, the implication being Sep 1, 2017 Chainalysis, a New York-based firm that makes software to protect against cryptocurrency money laundering, released numbers this week saying that scams through initial coin offerings have pushed the total cost of cybercrime to $225 million this year. According to the company, there have been about  Initial Coin Offerings: Where the SEC Might Stand Published 4 months ago by Brian Klein, David McGill and Benjamin Sauter. Features Regulation Legal Business News US & Canada Law Featured Securities and Exchange Commission ICOs. Should purveyors of ICOs fear the long arm of US law?

In Australia, the legal status of an ICO is dependent of the circumstances of the ICO, such as how the ICO is structured and operated, and the rights attached to the coin (or token) offered through the ICO. In some cases, the ICO will only be subject to the general law and the Australian consumer  ico tracker website About Initial Coin Offerings. The Tension Between Business Model. Innovation and Securities Regulation. By Outlier Ventures Research, a division of Outlier Ventures. Lawrence Lundy, Jamie Burke, Aron van Ammers. At no point does the information contained in this report constitute formal or informal professional or legal South Korea to ban ICOs · South Korea. September 30, 2017. Financial Regulator to ban ICO activity according to Reuters -southkorea-bitcoin/south-korea-bans-raising-money-through-initial-coin-offerings-idUSKCN1C408N  So You Want to (Legally) Raise an ICO? | National Crowdfunding

ICOs: Mayweather, More Celebrities Face Securities Law Risk

Jul 18, 2017 Initial coin offerings (ICOs), or token sales, are becoming an increasingly popular method for blockchain and cryptocurrency startups from around the world to raise funding. In the past year, ICOs have raised over a billion dollars for early stage startups. An ICO is a method through which a project or venture  ico group Nov 15, 2017 Singapore's central bank has issued new guidelines on initial coin offerings providing guidance on how tokens should be applied under its securities laws.Jun 21, 2016 ICOs (Initial Coin Offerings) have become a popular way to fund cryptocurrency projects. What are they, and how do In order to try to avoid legal requirements that come with any form of a security sale, many ICOs today use language such as 'crowdsale' or 'donation' instead of ICOs. They also use legal  Jul 27, 2017 On July 25, 2017, the U.S. Securities Exchange Commission issued an Investigative Report detailing its investigation of an initial coin offering of or “coins” may qualify as “securities” subject to the SEC's jurisdiction that must be offered and exchanged in compliance with the securities laws and regulations.

Sep 12, 2017 Supporters of the plan can invest in it by buying the coins/tokens on offer. Most ICO issuers raise money in bitcoin, ethereum or other cryptocurrency, which they can convert into fiat money (dollars and cents / pounds and pence, etc.) to pay for the project's development costs. real ico youtube Jan 9, 2018 Initial Coin Offering, or ICO, has become a fast growing way for startups to raise funds with cryptocurrency, which is backed by the distributed ledger technology (DLT) – or Blockchain – a more familiar terminology for the general public as one of the famousest example of DLT. The idea of ICO can be thought Nov 24, 2017 It's a crypto clampdown as the US eyes Initial Coin Offerings. But as their popularity has grown, so have the questions around their legality and the risk they pose to ordinary investors who are being lured in by celebrity endorsements and the hope of a quick return. The confusion is due to the fact that  Sep 5, 2017 The Securities and Futures Commission (SFC) has noticed an increase in the use of initial coin offerings (ICOs) to raise funds in Hong Kong and tokens that are offered or sold may be “securities” as defined in the Securities and Futures Ordinance (SFO), and subject to the securities laws of Hong Kong.

Aug 9, 2017 Blockchain and Initial Coin Offerings: SEC Provides First U.S. Securities Law Guidance. Posted by Gregory J. Nowak and Joseph C. Guagliardo, Pepper Hamilton LLP, on. Wednesday, August 9, 2017. Comment print this page Print email this post E-Mail  where to buy bus tokens septa Jul 28, 2017 This year alone, firms have raised $1.3 billion from initial coin offerings (ICOs), a type of blockchain crowdfunding for startups. But rather than It concluded that DAO Tokens are securities and its creators “broke the law by offering shares to the public without complying with applicable securities laws.”.As a result, Initial Coin Offerings, or ICOs, have catalyzed a chain of events that have, to some extent, destabilized the cryptocurrency industry as a whole. ICOs have rapidly increased in popularity recently as a crowdfunding analog that works in a similar way to the IPOs that are presented when a company wants to offer  Monetary Authority of Singapore on Initial Coin Offerings. Aug 29 2017 under the Securities and Futures Act”. The MAS' comments followed from the Securities and Exchange Commission (SEC) in the United States, declaring in a note on July 25, 2017, that the issuance of digital tokens could trigger US securities laws.

ICO Rulings - New Rules Regarding Initial Coin Offerings - Trulioo

Legal Herald . NOVEMBER 2017. 18. Initial Coin Offering —. A Quick Look. |by Brian Lye Mou-Yu|. What are digital 'tokens'? A digital token is created and cryptographically secured through blockchain as part of a decentralised digital protocol. Each token is a unit representation of the token holder's right to receive a benefit  cryptocurrency zcoin Sep 7, 2017 Media Statement on Initial Coin Offerings. Securities Commission Malaysia (SC) would like to caution investors as we note the emergence of digital token based fundraising activities / investment schemes in Malaysia and elsewhere, which may be referred to as “initial coin offerings”, “initial token offerings”, Shipkevich ICOs Attorneys service for cryptocurrency such a Bitcoin. With the rise in Regulations, legal counsel is best to protect your company and assets. Jun 4, 2017 China's central bank, the People's Bank of China, is planning on regulating the initial coin offering (ICO) market in the near fut. Most recently, prominent Bitcoin trader WhalePanda wrote in his Consensus NY event recap blog post that the legality of ICOs was one of the major discussion points at the event 

Sep 7, 2017 Cryptocurrency users take note – Canadian securities laws may apply, and regulators are paying attention. On August 24, 2017, the Canadian Securities Administrators released strong guidance on how securities regulators will view and regulate cryptocurrency offerings, also known as initial coin or token  icobs 6 May 26, 2017 After a number of recent, high-profile and wildly successful Initial Coin Offerings or “ICOs”, the blockchain-based asset industry has been abuzz about new ICOs as well as the regulatory issues that surround the space. This post provides a quick overview of the big securities laws issues surrounding these Apr 9, 2017 For more information visit: What Initial Coin Offerings Are, and Why VC Firms Care (Harvard Business Review). In this sense, tons of blockchain If the project goes wrong or there is any problem with the ICO, the Terms and Conditions could help if legal actions are required. Finally, the project should be  Sep 6, 2017 In its “Statement on initial coin offerings,” the Securities and Futures Commission (“SFC”) stated that “digital tokens that are offered or sold [in ICOs] may be 'securities,'” and therefore subject to the securities laws of Hong Kong. The SFC called out three types of arrangements under which, in its view, the 

Sep 4, 2017 Cryptocurrencies plunge as China bans initial coin offerings regional financial regulator that covers Shanghai announced on its Weibo (a microblogging site) account that "law enforcement officers ordered to immediately stop the Global Blockchain Summit in Shanghai, and interviewed relevant parties. a-icon-star On the 5th of December 2013, China Central Bank made its initial phase in managing bitcoin by restricting monetary establishments from taking care of bitcoin 2013, the Reserve Bank of India issued a report to the Indian populace open to be careful in purchasing or offering of virtual monetary forms, including bitcoin.iComplyICO is a platform for ICO/Token compliance that automates legal processes in order to legitimize ICOs as an emerging financial instrument and enable lawful secondary trading of these regulated digital Register to invest in compliant Initial Coin Offerings (ICOs) with enhanced due diligence and ID verification. Nov 7, 2017 Currently, most of the ICOs don't sell coins designed to be used for general purposes. Rather, they are tokens associated with specific businesses, apps or projects. There's also the initial token offering (ITO) always used interchangeably with ICO. What's The Legality Of ICOs? If an ICO is properly formatted 

Aug 8, 2017 Initial Coin Offering (ICO): Advices to Minimise Failure Initial Coin Offering, or commonly known as ICO, is a form of crowdfunding or fund-raising activity based either on established cryptocurrencies such as Bitcoin Hire (or partner with) a lawyer if possible in order to make sure you don't break the law. companies investing in blockchain tech Nov 23, 2017 Home E-Commerce Initial Coin Offerings (ICOs) – cryptocurrency, fundraising and the media industry impact It's easy to hear ICO and think IPO (initial public offering). Although there are Legality and regulation: ICOs are largely unregulated and the legalities surrounding them are not clearly defined.The Venture Alley is written by the Corporate & Securities Lawyers at DLA Piper and offers updates & legal insights in the VC space. Aug 1, 2017 Over the last 12 months, a growing number of start-ups, primarily those offering blockchain-based services, have raised capital utilizing so-called initial coin offerings or token sales (collectively referred to herein as ICOs). For a number of months, the fundamental question hanging over the ICO space was 

Aug 9, 2017 With the advent of Initial Coin Offerings, or Token sales, there has been a noticeable interest in companies from all sectors that would like to understand the process of raising funds for their projects. Unfortunately many have a lack of understanding about the comparative regulation, laws, and the trends that  t blockchain platforms Dec 18, 2017 In August, the Canadian Securities Administrators (CSA) issued a notice that said many initial coin and token offerings appeared to involve the sale of securities, and should therefore be subject to Canada's securities laws and scrutiny if they are sold to Canadian investors or by anyone conducting business Sep 12, 2017 The UK City watchdog has warned investors of the “high risk, speculative” nature of initial coin offerings as their popularity booms, becoming the latest global Last week, China's government declared ICOs illegal and called a halt to all fundraising involving cryptocurrencies as it sought to curb risks from  Aug 17, 2017 ICO (Initial Coin Offering) is all the rage these post discusses what a token is, how an ICO differ from an IPO and securities law. ICO offer you a way to preserve your autonomy, raise capital and realize your vision.

Feb 12, 2017 In 2016, blockchain startups raised some $200 million in Initial Coin Offerings, a new form of crowdfunding based on cryptocurrency tokens. Some of the As is with blockchain itself, expert opinion is highly polarized on the crypto–token crowdfunding hype, its reliability, its legality and its future. Here's what  invest in blockchain companies utah Sep 19, 2017 On 5 September 2017, the Securities and Futures Commission (SFC) issued a statement on initial coins offerings (ICOs), in which it explained: features which may make Asset managers investing in unregulated ICOs should review the legality and risks of their ICO investments. Entities engaging in ICO Aug 17, 2017 Seeking Alpha noted the regulations apply to companies that use distributed ledger or blockchain technology for things like an initial coin offering or token sales. Those that don't register their offering could be liable for violation of securities laws, the SEC said. The reason for the regulation, according to the  Oct 3, 2017 Gibraltar, GFSC statement initial coin offerings. The GFSC noticed increasing use of tokens coins based on Distributed Ledger Technology for finance.

UK Regulator Examines Scope of Securities Laws, Warns of Initial

Dec 7, 2016 A Securities Law Framework for Blockchain Tokens. A ​blockchain token ​is​ ​a digital token created on a blockchain as part of a decentralized software protocol. There are many different types of blockchain tokens, each with varying characteristics and uses. Some blockchain tokens, like Bitcoin,  ico cryptocurrency 7th edition Dec 11, 2017 Statement from SEC Chairman Jay Clayton on Cryptocurrencies and Initial Coin Offerings. A change in the structure of a securities offering does not change the fundamental point that when a security is being offered, our securities laws must be followed.[4] Said another way, replacing a traditional Jun 19, 2017 Thanks to the rise of cryptocurrencies like Bitcoin, alternative funding and “offering” sources for products and services have arisen, including Initial Coin Offerings. An Initial Coin Offering (ICO), which is a network token pre-sale, is the newest way for startups, developers, and early adopters to get funded  Aug 3, 2017 As of July 7th, 2017, Initial Coin Offerings (ICOs) have raised over USD 380 million this year in exchange for the issuance of cryptocurrency. In the last 12 months or so, this process has emerged as a significant alternative to traditional fundraising activities by business entities such as private placements 

May 2, 2017 The venture capital community thrives on disruption. So what happens when the tables are turned and the medicine bottle has their name on it? There's a new kid riding onto the financing block – riding roughshod across an unregulated landscape. Welcome to the world of the initial coin offering (ICO). ico game rating Jul 25, 2017 Initial Coin Offerings (ICOs) appeared on the horizon in the blockchain world with the first ever such issuance by a company called Mastercoin in 2013. While it is true that there has been virtually no legally compliant token sale till date, one token offering (Adel with the issuance of Adelphoi token) has Bitcoin falls as China declares initial coin offerings illegal. Bloomberg|. Updated: Sep 05, 2017, 09.44 AM IST. 0Comments. Digital token financing and trading platforms are prohibited from doing conversions of coins with fiat currencies. Bitcoin tumbled the most since July after China's central bank said initial coin offerings  Jul 10, 2017 Percentages of cryptocurrency are generally sold in ICO campaigns to the early backers in projects for an exchange of legal tender as well as other cryptocurrencies. But, this is done mainly for Bitcoins. Initial Coin Offerings is also known as Initial Public Coin Offering. When the cryptocurrency firms are 

Aug 2, 2017 In this second article of a three-part series, we introduce initial coin offerings ("ICO") - including the components of an ICO, a brief overview of the ICO process, the Each investor sends either existing cryptocurrencies (e.g. Bitcoin or Ether) or legal tender to the issuer, receiving digital tokens in exchange. icon nightclub miami Sep 4, 2017 The hype around ICOs or initial coin offerings has reached fever pitch in the US, with celebs like Paris Hilton endorsing new digital currencies and mainstream outlets such as CNBC offering viewers advice on how to build their own “cryptocurrency portfolio.” In China, though, the authorities have had Aug 24, 2017 BITCOIN, BLOCKCHAIN, CRYPTOCURRENCIES AND ICO'S: LEGAL ENIGMAS FOR START-UP'S OPERATING ON THE FUTURE FRONTIER As the terminology is complex, we will not aim to explain what the Blockchain, Cryptocurrencies (which include BitCoin) or Initial Coin Offerings (“ICO”) are. ICO attorney, Adam S. Tracy , J.D., M.B.A. is an authority in the law of blockchain technology with keen understanding of the regulatory issues facing crypto currency industries and can help you navigate regulatory waters in the field where innovation collide with the law and taxation issues. Contact us at 1.888.978.9901 or 

Sep 6, 2017 Complying with US federal securities laws is a complex, expensive endeavor and the penalties for non-compliance are punitive. According to staff writer Evelyn Cheng, “For all the hype in the digital currency world about so-called initial coin offerings, U.S. investors often can't officially participate. ico retention and disposal schedule Jul 27, 2017 SEC: Certain Initial Coin Offerings Are Securities Offerings. SEC's investigative report sends clear message that virtual transactions using innovative technologies are subject to the application of securities laws. Introduction. On July 25, 2017, the US Securities and Exchange Commission (SEC) issued a Oct 2, 2017 On September 29, the Securities and Exchange Commission (SEC) initiated a civil enforcement action involving Initial Coin Offerings (ICO). In this first-of-its-kind action, the SEC alleges that Maksim Zaslavskiy and his companies, ReCoin Group Foundation and Diamond Reserve Club (DRC), fraudulently  Randy will discuss the current proliferation of initial coin offerings (ICOs) and the legal and regulatory issues that accompany this new fundraising mechanism. Randy Robinson / D.U. Law Professor. Day 2Main Hall A · Facebook Google+ Twitter Pinterest 

Jun 16, 2017 The United States Securities and Exchange Commission (SEC) is reportedly scrutinizing the rise of Initial Coin Offerings (ICO). The ICO is the cryptocurrency analogy for the Initial Public Offering. In an ICO examine the existing global regulatory and legal structures governing Virtual Currencies; 5 ico ratings Almost all ICOs are illegal. Firstly I would like to address the problem here, initial coin offerings are currently… by picokernel.Sep 4, 2017 Ethereum and bitcoin are crashing this morning, after China confirmed its recent threat of an ICO crackdown (reported here last Monday) when the central bank said on Monday that initial coin offerings are illegal and disrupt financial markets, according to statement on China's central bank website. Sep 20, 2017 Initial Coin Offerings (ICOs) are a form of crowdfunding that leverage cryptocurrency as a mechanism to fund startups. Over $1 billion has been raised, yet this area is not yet highly regulated. The US SEC has issued preliminary guidance on ICOs and whether they are covered under the US securities laws.

Sep 4, 2017 Start your day with what's moving markets in Asia. Sign up here to receive our newsletter. Bitcoin tumbled the most since July after China's central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to  a crypto icon Apr 21, 2017 During a recent talk at Blockchain Meetup Zurich, Pamela Morgan, who is the CEO of Third Key Solutions and an attorney at Empowered Law PLLC, shared some of Jun 8, 2017 The growing use of cryptocurrencies has given birth to a rising phenomenon called initial coin offerings (ICOs). This financial "Although some projects are trying to follow existing rules and regulations by putting in place some best practices, there are still no laws to protect investors." At the same time,  Sep 13, 2017 It was a strong start for Australia's first initial coin offer (ICO) with Perth based company, Power Ledger raising $17 million in the first of two stages earlier On 24 August 2017, Canada also released some guidance on how ICOs are to be treated under exiting securities laws, with the release of CSA Staff 

Nov 15, 2017 What is bitcoin? Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds . with Canadian laws and used palm prints, photographs and. ID as verification before through an Initial Coin Offering ('ICO') with the. g ico coins Oct 10, 2017 about the treatment of digital currencies under existing regulatory regimes around the world. This article looks briefly at the legislation in place in Australia for cryptocurrency, examines the recent phenomenon of the Initial Coin Offering (ICO) and discusses some associated legal and regulatory issues.Mar 6, 2017 It seems that at least once a week nowadays, I get a call asking whether an initial coin offering (ICO) is regulated at all, and the question came to a head at a recent Legal Hackers LA discussion on smart contracts by Daniel Rice. The long and short of it is that it probably is—though it does depend on what  Legal Herald . NOVEMBER 2017. 18. Initial Coin Offering —. A Quick Look. |by Brian Lye Mou-Yu|. What are digital 'tokens'? A digital token is created and cryptographically secured through blockchain as part of a decentralised digital protocol. Each token is a unit representation of the token holder's right to receive a benefit