Australia is becoming one of the most favorable countries for ICO for technology startups.
When in 2017 the Chinese government has imposed a ban
on primary floatation of tokens (ICO), the cryptocurrency space froze in anticipation of similar measures from other governments. However, these fears proved groundless.
Although some States do in one way or trying to regulate ICO, in General there is a positive trend in relation to regulators for initial public offerings tokens. One of these countries – Australia, as demonstrated by ICO startup InvestDigital conducted in late 2017.
InvestDigital, the Chinese startup that wants to create and commercialize a platform of Fund management for the assets of the crypto type, has attracted $ 23 million through the ICO with the help of large companies such as InBlockchain, Bixin and Queschain Capital and individual investors.
Last year, the Australian Commission of securities and investments (ASIC) issued guidance
in conducting the ICO, which was written in a very liberal manner and position Australia as a competitive option for companies who want to spend ICO.
This is what influenced the decision of a startup InvestDigital. Bill Fuggle (Bill Fuggle), partner at Baker McKenzie Australia, acting as a legal consultant to InvestDigital in the process, the ICO said:
«Australia’s position is not materially different from other developed Western/Asian countries, including Japan, Switzerland, the United Kingdom and the United States, however, Australian regulators familiar with the issue of cryptocurrencies and seems to invest more resources in understanding this sector than others.»
ICO how the industry will change in the future is unclear, but it’s safe to say that the most attractive are precisely those regions where governments pay greater attention to the issue of IPOs tokens and cryptocurrencies in General. The most difficult for States to develop such regulations that will simultaneously create a favorable ground for the ICO, thus benefiting the national economy and protecting investors from fraud.