By:Mark Schaub   Stanley Zhou & David Hong    King & Wood Mallesons

Introduction – the Rise of the ICO

Initial Coin Offerings (“ICO”) hit the global zeitgeist with a bang in 2017. In those heady times a small project team in East Europe with a white paper and a dodgy website could raise millions of dollars in the span of several minutes. The ICO investment phenomenon coupled with the meteoric rise of cryptocurrencies raised the profile of the underlying distributed ledger and blockchain technologies.

Continue Reading What the New PRC Blockchain Regulations Mean

作者:常俊峰 甘雨来 邓哲 金杜律师事务所争议解决部

There is a new trend appearing in the regulation of virtual currencies. Countries such as the United States, Japan, and South Korea are strengthening their regulation of ICOs. This article will focus on current supervision of ICO and related legal risks. Continue Reading Blockchain Legislation丨Increased Accountability: Supervision and Legal Risks of an Initial Coin Offering

作者:陈青东 杨帆 张文怡 金琳懿 金杜律师事务所公司业务部

基于区块链分布式记账技术的首次代币发行(“ICO”)在2017年迅猛发展,由于代币的登记信息难以篡改、代币理论上可以在全球发行和认购、在很多国家和地区暂时不受监管的限制、融资不再依赖于风险投资家、代币与智能合约的紧密结合等突出优势,ICO成为很多初创科技企业的融资选项。据称,在2017年ICO的融资规模在某些领域和市场已经相当于或超过风险投资的融资规模。[1] Continue Reading 区块链法律丨聚焦航运业ICO

作者:周昕 谢雪 金杜律师事务所金融资本部


金杜研究院在今年7月发表了《关于ICO你需要知道的10件事》,帮助市场主体了解ICO的10大要点,然而就在9月4日,七部委发布了《关于防范代币发行融资风险的公告》(以下简称“公告”),对于中国境内的ICO活动的性质做出了指示,并要求各类代币发行融资活动应当自公告之日起立即停止,宣判了中国式ICO的突然死亡。 Continue Reading 中国式ICO之死:数字资产交易监管逻辑与展望