OMG ate Yunbi for breakfast

>>3364411
next dish is china
instead of pink wojacks there will be chink wojacks

File: omgcny.png (38KB, 1107x831px) Image search: [Google]

38KB, 1107x831px

The Chinese exchanges don't represent a large % of OMG trading volume. Nice #fakenews fagos

kek 4% is nothing

delisted on chinese but probably list on korean this year

>>3364411
Part1

The SFC confirms that ICO tokens are securities and are subject to licensing or registration by the SFC

2017-09-06 Block Chain Daily Finance
The Securities and Futures Commission (SFC) issued a statement on 5 September applicable to the existing regulations for initial coin offering (ICO). The Securities and Futures Commission (SFC) stated in the statement that the digital tokens available for sale or sale may be "securities" as defined in the Securities and Futures Ordinance and are subject to the laws and regulations of Hong Kong securities, subject to the facts and circumstances of individual ICOs tube. The statement reads as follows:
Statement of the first tokens issue

The Securities and Futures Commission (SFC) has noted that there is an increasing number of activities in Hong Kong and elsewhere to raise funds by initial coin offering (ICO). The purpose of this statement is to clarify that the digital tokens available for sale or sale may be "securities" as defined in the Securities and Futures Ordinance and subject to the laws of Hong Kong securities, subject to the facts and circumstances of individual ICOs.

Securities sale

ICO generally involves the issuance of digital tokens created and distributed using distributed ledger or block chain technology. ICO Program Operators may assure purchasers of digital tokens that the proceeds of ICO will be used as a digital platform or related software for the development of toll holders in future use. Some of the toll holders expect to be able to earn a return on investment by reselling the token on the encrypted currency exchange. Although the digital tokens in the general ICO are generally considered to have the characteristics of "virtual goods" 1, the SFC has recently observed the terms and characteristics of certain ICOs, which may mean that the digital tokens are "securities".

>>3364502
Part2

A digital token issued in the ICO may be deemed to be a "share" if it represents the equity or ownership interest of a company. For example, the token holder may be given the right to shareholders, such as the right to receive dividends and the right to participate in the allocation of surplus assets at the time of winding up.

If the use of a digital tokens is to enter into or confirm that the debts or debts borrowed by the issuer are likely to be treated as "debentures". For example, the issuer may repay the principal of the investment and pay interest to the token holder at the appointed date or at the time of redemption.

If the proceeds from the sale of tokens are managed collectively by the ICO Program Operators and invested in different projects so that the token holders can participate in the sharing of the returns provided by the project concerned, the digital tokens may be considered " Collective investment plan ".

Whether it is shares, debentures and collective investment plan interests, are regarded as "securities."

Engaged in regulated activities

If the digital tokens involved in ICO are in conformity with the definition of "securities", the provision of trading services or advice on such digital tokens, or the management or promotion of investments in digital tokens may constitute "regulated activities". A person or institution engaged in "regulated activities", whether or not located in Hong Kong, shall be licensed by the Commission or registered with the SFC if its business activities are for the public of Hong Kong.

>>3364512
Part3

Where an ICO relates to an offer to the Hong Kong public to purchase "securities" or to participate in a collective investment scheme, it may be required to be registered 4 or recognized under the law unless it is exempted. Any person or institution who engages in the sale of the coin in the secondary market (for example, in an encrypted currency exchange) may also be subject to the licensing and conduct of the SFC. In addition, there are a number of provisions relating to automated trading services and recognized exchanges 6, or to operational activities for the encrypted currency exchange.

Warning statement

Due to the differences in the terms and characteristics of the ICO projects, persons or organizations engaged in ICO activities should have legal or other professional advice if they have questions about applicable legal and regulatory requirements.

Given that the digital tokens involved in ICO are held or traded anonymously, they essentially constitute significant risk of money laundering and terrorist financing. In its circular of January 16, 2014, the SFC reminded licensed corporations and associated organizations to take all reasonable measures to ensure that appropriate preventive measures are in place to reduce the risks.

Investors should also be aware of the potential risks involved in ICO and investment arrangements related to digital tokens. As the arrangements and related parties are conducted and operated online and are not subject to regulation, investors may face higher risk of fraud. The sale of digital tokens in the secondary market may lead to liquidity or pricing volatility and lack of transparency. Investors should fully understand the characteristics of any product or business that they intend to invest and carefully weigh the relevant returns and risks before investing.

>>3364427
we've got RETARDS here
bitfinex is a chinese exchange fucking cuck

>>3364522
Last

Note:
1, virtual goods itself is not "securities".
2. The Collective Investment Scheme as defined in Schedule 1 to the Securities and Futures Ordinance generally contains four elements: the arrangements for property; the participant's management of the property in question is not subject to day-to-day control; Shall be collected by the person who operates the relevant arrangement or on behalf of the person and / or the contribution of the participant and the profits or proceeds used to pay them; and the purpose or effect of the arrangement is to enable the participant to share Or to receive profits, proceeds or other returns arising from the acquisition or management of such property.
3, "regulated activities" specified in Part 1 of Schedule 5 to the Securities and Futures Ordinance.
4. The prospectus system under sections II and XII of the Companies (Winding and Miscellaneous Provisions) Ordinance.
5. Under Part IV of the Securities and Futures Ordinance, sales documents relating to collective investment schemes are subject to the approval of the SFC before being issued to the public in Hong Kong unless exempted.
6, as defined in Part III of the Securities and Futures Ordinance.
7, see the Circular on Licensed Corporations and Associated Entities issued on 16 January 2014 - Combating Money Laundering / Financing of Terrorists - Money Laundering and Terrorist Funds Raising Risks Associated with Virtual Commodities.

>>3364424
Underrated