Singapore Exchange Reveals Expectations For Listed Companies Conducting ICOs

The Singapore Exchange has published a list of its expectations of listed companies that intend to raise funds using digital token sales. In a post published on its official website on November 15, the exchange revealed that while it is not interested in passing judgement on the commercial benefits of investment value of ICOs and cryptocurrencies, companies are required to liaise with Singapore Exchange Regulation (SGX RegCo) before launching ICOs so as to enable shareholders to make informed decisions.

The note, which was signed by SGX RegCo CEO Tan Boon Gin stated that firms looking to launch ICOs must provide legal and auditor opinions on the nature of the digital asset in question and its accounting treatment. If further specified that at the point of announcement, ICO issuers must declare certain information so as to appraise shareholders of the fund raising.

Reference: https://www.ccn.com/singapore-exchange-reveals-expectations-for-listed-companies-conducting-icos/

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