Categories: ICO

UAE Securities Regulator to Introduce ICOs for Capital Markets in 2019

Click here to view original web page at cointelegraph.com

The United Arab Emirates (UAE)’s national securities regulator plans to introduce Initial Coin Offerings (ICO) for capital markets in 2019, Reuters reported Oct. 8.

Reuters notes that the regulator has embraced the innovative fundraising model to diversify the means through which companies can raise capital, noting that in recent years, “weak” equity markets, coupled with low oil prices, have been adversely impacting Initial Public Offerings (IPOs) in the country and wider region.

Reuters quotes the CEO of the country’s national securities watchdog, Obaid Saif al-Zaabi, as saying that:

“The board of the Emirates Securities & Commodities Authority [ESCA] has approved considering ICOs as securities. As per our plan we should have regulations on the ground in the first half of 2019.”

Al-Zaabi added that the ESCA is currently drafting regulations for ICOs with international advisers, collaborating with the Abu Dhabi and Dubai stock markets to develop ICO trading platforms.

Al-Zaabi also noted that the Ministry of Economy has proposed new regulations for IPOs that are currently under review by the Prime Minister. As well, he mentioned a separate initiative requiring that 20 percent of those appointed to the boards of listed companies are women.

As previously reported, the ESCA announcement appears to corroborate government sources that indicated earlier this month regulatory proposals for ICOs would be formally entered into law upon imminent publication in the UAE’s Official Gazette, an official periodical containing all the country’s legislation.

At the time, the reports stated that lawmakers were also planning the launch of a regulatory sandbox aimed at attracting greater fintech activity.

Reuters notes […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

CME Group Reveals Plan for Bitcoin Options in Q1 2020

Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More

4 hours ago

Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More

4 hours ago

IBM Stock Gets a Blockchain Pop

IBM (NYSE: IBM ) investors haven’t had all that much to complain about in 2019. After a precipitous drop over… Read More

4 hours ago

I-Team: Bitcoin scams rob Triangle investors of $54K

RALEIGH, N.C. (WTVD) -- A series of online heists is robbing even the most tech-savvy people in the Triangle.According to… Read More

4 hours ago

Colombia is slowly moving toward Bitcoin-friendly regulations

To say Colombia doesn’t have the best cryptocurrency regulations in the world would be an understatement. As it stands, crypto,… Read More

4 hours ago

Ethereum price analysis: Bulls take full control of ETH/USD

ETH/USD went up from $218.55 to $220.60. The Relative Strength Index (RSI) indicator is trending in the overbought zone. ETH/USD… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More