Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: CryptoGirl on November 02, 2017, 10:55:48 AM
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The New Zealand Financial Markets Authority (FMA) outlined the ways in which token sales would be covered under national law. Notably, the regulator said that, in its view, any cryptocurrency or ICO-derived token would be considered a security.
"All tokens or cryptocurrencies are securities under the [Financial Markets Conduct Act 2013] – even those that are not financial products. A security is any arrangement or facility that has, or is intended to have, the effect of a person making an investment or managing a financial risk."
https://fma.govt.nz/news-and-resources/media-releases/fma-commentary-on-icos-and-cryptocurrencies/