Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: CryptoGirl on November 07, 2017, 03:32:22 PM
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The New Zealand Financial Markets Authority (FMA) said that the cryptocurrencies or any initial coin offering (ICO)-derived token will be considered as a security in the country. The decision was detailed in the new guidance on ICOs and virtual currencies, that was released by the agency.
"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/