Request for Comments on the Proposed Rules on Initial Coin Offering (ICO)

August 2, 2018SEC MSRDTO :Banks, Investment Houses, Investing Public and All Interested Parties   FOR :Request for Comments on the Proposed Rules on Initial Coin Offering (ICO)NOTICEThe Securities and Exchange Commission intends to issue Rules on Initial Coin Offering (ICO). Hence, the Commission is inviting banks, investment houses, the investing public and other interested parties to submit their views, comments and inputs to the proposed guidelines. The draft SEC Memorandum Circular is hereto attached for your reference.Commenters may submit, not later than 31 August 2018, their views, comments and inputs by email to [email protected], [email protected] and [email protected].Issued on August 2, 2018.ATTACHMENTSEC MEMORANDUM CIRCULAR NO. ____Series of 2018SUBJECT: RULES ON INITIAL COIN OFFERING (ICO)NOTICEIn recognition of the recent financial innovation of raising funds for a venture or business using internet platforms, the Commission formulated rules on initial coin offering in accordance with the Securities Regulation Code (SRC) and international practice and standards.PREAMBLEWHEREAS, it is the policy of the Commission to encourage investments and active public participation in the capital market, foster good governance and...