The Financial Services commission issued a communiqué on 15 July 2022, highlighting the rules issued under the Virtual Asset and Initial Token Offerings Services Act 2021, following a series of consultation with stakeholders of the financial industry and the general public. The communiqué provides detailed breakdowns of the set of rules issued to regulate and govern the issuance of Virtual Assets and Initial Token Offerings in terms of Financial Requirements, Clients Disclosures, Cybersecurity implications, Risk Management and statutory returns.
Find more details in the official communiqué issued by the FSC HERE
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.