Logo of Hong Kong blockchain Foundation
No, countries have never supported any virtual currencies, including global payments
in recent years, "virtual currency" represented by bitcoin, ethereal currency and Leyte currency has been centralized trading on some Internet platforms. With the help of financial technology, the price of these "currencies" has graally spread to investment, financing and other financial fields, which has aroused wide attention from all walks of life
not long ago, the people's Bank of China and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly regulated the relevant behaviors. Experts pointed out that "virtual currency" is not legal tender issued by monetary authority, but a specific virtual commodity in essence
therefore, it is undoubtedly a great legal and economic risk to think that "virtual currency" has or will have the nature of legal tender and to carry out speculation, network fund-raising, lending and financing
be alert to the risk of virtual currency
after the regulatory authorities have made clear their attitude, although bitcoin China, huocoin.com and other "virtual currency" operators have successively taken restrictive measures on the trading platform, the risk of "virtual currency" speculation still deserves high vigilance
in response, the China Internet Finance Association also said in the "tips on preventing the risks of bitcoin and other so-called" virtual currencies ", that bitcoin and other so-called" virtual currencies "lack a clear value basis and are increasingly becoming tools for money laundering, drug trafficking, smuggling, illegal fund-raising and other criminal activities
investors participate in speculation through the "virtual currency" trading platform, and face the risk of price fluctuation, security risk, platform technology risk, etc., which need to be borne by investors themselves
Ripple / XRP can't be g, but recently ripplelab team participated in WCG project (by contributing their remaining computer computing power to solve some scientific research calculation problems such as cancer, love death and so on). You need to take part in it, and ripplelab will give you some XRP according to your contribution
reborn coin is the base currency of ripple network. It can circulate in the entire ripple network, with a total amount of 100 billion, and graally decreases with the increase of transactions. The operating company of reborn coin is ripple labs (formerly known as opencoin)
reborn currency is the only common currency in ripple system, which is different from other currencies in ripple system. Other currencies such as CNY and USD can't withdraw cash across gateway. In other words, CNY issued by gateway a can only withdraw cash at gateway A. if you want to withdraw cash at gateway B, you must convert it into CNY issued by gateway B through the registration function of ripple system. However, reborn coin has no such limitation at all. It is universal in ripple system
like bitcoin, XRP is a digital currency based on Mathematics and cryptography, but different from bitcoin, XRP has the main bridge currency and security function in ripple system, and the security function is indispensable, which requires that the gateway participating in this protocol must hold a small amount of XRP
Further information:because ripple labs officials do not care about the price of the currency, and do not want people to make the price of the currency rise greatly in the short term through speculation, but hope that people can slowly accept the currency by understanding the ripple agreement, Therefore, the price fluctuation of reborn currency may be smaller than other virtual currencies, but in the long run, its price will graally show up with the development of ripple agreement, but any investment is risky. It is suggested that we invest rationally and make a reasonable judgment on its value
reference: Network - reborn coin
BVI company structure Singapore Foundation:
firstly, the project party registers an ordinary offshore company in BVI, and claims that the main body of the foundation is BVI company. Then we set up a foundation (CLG) in Singapore. BVI company cooperates, authorizes and operates ICO related projects. Of course, each currency needs an independent foundation to operate, so as to regulate the risk of currency trading on the main body of the foundation. Finally, Singapore commonweal foundation authorized the domestic marketing team and technology R & D team to carry out project promotion and technology R & d
to issue legal opinions on project compliance in the later stage: according to Singapore law, all ICO related projects operated by the foundation, whether currency issuing or exchange, It is necessary to issue a legal opinion to prove that the nature of digital currency is non securities and futures, and the white paper also needs to circumvent the relevant attributes to comply with the laws and regulations of the Singapore monetary authority
ICO technology is a new application of computer technology, which will be supported by the international community. However, many investors issue blockchain to obtain returns and raise funds from the public, which has great investment risk. In addition, some institutions do not meet the regulatory requirements and issue blockchain projects without authorization, Therefore, many countries do not recognize ICO projects
in order to solve the problem of non-compliance, the unregulated ICO instry needs to be recognized by the international community. At this time, some people will think of setting up a foundation to operate. Since foundations belong to non-profit organizations, and projects issued by non-profit organizations belong to public undertakings, which are more easily recognized by people at home and abroad. The Singapore government supports ICO technology, vigorously develops blockchain technology, and gives preferential policies at the same time. Therefore, it has become a broad consensus to set up foundations for non-profit organizations in Singapore, This is also the fundamental reason why all registered ICO foundations choose to be in Singapore
What preparations are needed to register a foundation< First, the name of the foundation. This name needs to be in English
Second: Directors and shareholders: provide scanned copies of ID cards or passports of directors and shareholders, with at least two directors, one of whom is Singaporean (we can provide, not holding shares)
third; Choose two business scopes
as long as you provide the above three points, you can register. The registration time is generally about 10-25 working days<
after registration, there will be later legal services:
legal opinions generally include the following four items:
1. Token non securitization proof: to prove that the project is non securitized and prevent MAS investigation
2. White paper legal opinions compliance: to prove that the project is not in violation of any regulations of Singapore and is compliant; Compliance with terms of sale:
4. Compliance with terms of public offering: it is equivalent to a guarantee for sale after going to the stock exchange and increases investors' confidence
first, it is explicitly prohibited, and ICO is deemed illegal, such as Russia, China, and South Korea
Second, there is no explicit prohibition, but strict supervision, and the legitimacy of unregistered ICO projects is not recognized. For example, the United States is seeking specific measures to regulate ICO, and the Hong Kong ICO must abide by the securities law of Hong Kong
thirdly, it tries to bring ICO into the regulatory framework and advocates to classify ICO projects according to the current laws and regulations. However, unlike the United States, which does not explicitly prohibit ICO, it is in the middle of tacit approval and strict supervision, with Europe as the main representative, such as Switzerland, Germany and Canada
the UK and Singapore allow ICO projects to try out the "sandbox mechanism" with a more open attitude
Singapore's clear tax regulations, relatively low regulatory interference and government support in this field make this financial center in Southeast Asia a hot spot for cultivating blockchain projects. More and more blockchain enterprises are going to Nanyang to Singapore in order to avoid domestic policies.
1. Ordinary companies end with Pte.Ltd. (even if the company name contains the word fund or foundation, as long as the end is Pte.Ltd., it still belongs to ordinary companies)< Non profit foundation ends with Ltd.
secondly, the nature of company is different, common company is joint-stock system, and non-profit foundation is public guarantee type. It mainly depends on what kind of foundation you need to register.
the last and most important point is that if we need to issue coins to connect with exchanges when we make blockchain ICO, some well-known exchanges require to issue legal compliance opinions. If you register an ordinary company, it is impossible to do legal opinions, only non-profit foundations can do relevant legal opinions. Therefore, most customers who do blockchain ICO will choose to register for non-profit foundations. After the foundation is registered, it will give customers some crucial documents. Whether the Singapore foundation you registered is compliant depends on whether these documents are complete.
2. Scanned copies of ID cards or passports of directors and shareholders
3. The purpose of the organization
the United States is divided into many states, and the price varies from state to state. Currently, Colorado is the most registered state, because there is no state tax in this state. The specific registration will be done according to the requirements of customers. Welcome to consult
Blockchain has become a synonym of this era. We often hear that there are such words around us. Major commercial giants are constantly exploring blockchain and cryptocurrency instry. Even JPMorgan Chase, a well-known investment bank on Wall Street, recently launched the cryptocurrency "JPM cion". This month, apple submitted a document to the US SEC, It revealed that the technology giant will start to expand the territory of the blockchain instry. The admission of such technology giants is bound to promote blockchain payment to play a huge role
how should the public invest in blockchain
with funds, energy and technology in hand, the project party can issue currency by itself. By registering a main company overseas, it usually chooses Singapore as the base and issues currency with the help of the main company overseas
to register Singapore companies, there are ordinary private limited companies and public guarantee companies to choose from. In Singapore, if ordinary companies are engaged in blockchain ICO projects, lawyers will not issue relevant legal compliance documents, which is risky; And the nature of the ordinary company is profit-making, has the nature of securities and futures, does not meet the requirements of investors, so we all choose to register the Singapore public non-profit foundation
it is also very simple to register the Singapore public non-profit foundation.
1. Name: XXX Foundation Ltd.
2. Registered person: 2 members, regardless of nationality, over 18 years old, with no criminal record in Singapore
Secondly, according to the requirements of the exchange, issuing ICO compliance legal opinions, which mainly include:1, white paper compliance legal opinions
2, token non securities legal opinions
3, private placement contract legal opinions
4, public offering contract legal opinions
to register a foundation, you need to provide two things. First, the name of the foundation; Second, two registrants. Other things like Singapore registered address and Singapore directors are provided by ZhuoZhi. Registration time under normal circumstances can be registered within 15 working days
I believe you can see that registering Singapore foundation is not particularly complicated. It's just that Singapore's policies are different from China's. of course, there are also ideas. But I want to remind you that if you register Singapore foundation, you can issue currency, but don't forget to do ICO compliance, because only compliance can be achieved, Only in this way can your enterprise develop better
to do ICO legal compliance, you need to provide four materials: white paper, registration certificate, registration paper and articles of association. Famous lawyers in Singapore will help you do this ICO legal compliance.