Digital currency Foundation

1. What are the connections between the blockchain and the foundation and what problems will they encounter?
when many people are doing blockchain, they usually register a foundation to run with ordinary companies. Compared with Singapore foundation, what are the common problems when they register a Singapore foundation to do blockchain, Below, we will sort out and share some of our customers' concerns with you
1. Does the registration fee include the cost of the white paper
A: No, the legal adviser is a personalized business, and the fee depends on the project. The legal adviser can provide services in the whole process. Including the revision of the legal provisions of the white paper, and the issue of professional legal opinions on relevant laws and regulations such as the non securities nature of the token. ICO is the legal consultation in the process of issuing currency

2. About the Singapore foundation. Why should there be a company to operate and what is the relationship with the foundation? Why not register a company directly for ICO and exchange docking
A: the foundation is a public welfare organization and a public sector. It is more concive to attract investment and technology development to use the foundation to issue blockchain. It can also be directly ICO through ordinary companies. It depends on how customers want to operate
3. Isn't ICO a way to raise funds?
A: Yes. Participate in the crowdfunding of the project with the existing real value currency, and exchange for the new cryptocurrency issued by the project. The advantage of fundraisers is that they get the funds to carry out the project, while the participants want the project to be successful. In this way, the newly issued cryptocurrency in their hands is likely to appreciate and arbitrage. The so-called ICO means that investors use bitcoin and other ready-made virtual digital currencies to exchange for new tokens issued by ICO projects. Because there are few new currency owners and the price fluctuates greatly, the selling price on the exchange is likely to be much higher than the issuing price. The sponsors of ICO project use the traditional digital currency to exchange RMB and other legal currencies in the exchange, and then put them into the designated technical projects
4. Why not raise funds through common channels
A: the threshold of common channels is low, and there is no regulatory department. The risk is high
5. How to set up an exchange
A: you can choose an exchange according to your own situation. Generally, you should have strong experience in digital asset security management. There are many platforms
6. Why do you need to make a legal opinion
according to Singapore's financial law and securities law, if a virtual currency with securities nature needs to apply for a special financial license, so it needs to prove that the project does not contain securities nature, it needs a lawyer to issue a legal opinion on the non securitization of token and a legal opinion on compliance of white paper to prove the legality and compliance of the project, both of which are required by most customers
7. How can a registered Singapore foundation open an account in a bank
first of all, there is no need to open an account for a registered public non-profit foundation, and it is useless to open an account because the nature of the foundation itself is non-profit. When it comes to the next year's audit, can't it explain the income and expenditure of the bank account with the monetary authority? Second, the bank has a choice of customers. If the bank is told to do blockchain, the bank will not accept opening an account; Third, whether it's private placement or public offering, all the money raised are virtual currencies like Ethereum bitcoin. Ordinary bank accounts can't accept these currencies, so I don't recommend opening an account in a bank.

2. At present, the RMB has basically been peripheral. In Southeast Asia, RMB has become another "hard currency" next only to us dollar, euro and Japanese yen. In southwest border areas, RMB is known as "small US dollar" and used as a hard currency; In Northwest China, RMB mainly circulates in five Central Asian countries, Russia and Pakistan; In Northeast China, RMB mainly flows to Russia, North Korea and Mongolia; Hong Kong has the largest cross-border circulation of RMB, which can be freely convertible through various channels. In addition, RMB is also widely used in Macao

as for the regionalization and internationalization of RMB, we can graally seek monetary cooperation within the framework of ASEAN 10 + 1 pseudo economic cooperation. We can fix their respective exchange rates and float jointly with foreign countries. When the time is ripe, we can use strong RMB to replace other currencies or take RMB as the dominant currency to create a single currency and realize monetary unification. Secondly, it can expand to ASEAN 10 + 3 on the basis of ASEAN 10 + 1 and unite with Japan and South Korea. At that time, RMB will really grow into an international currency with far-reaching influence, just like the euro to Europe and the US dollar to America

secondly, in terms of monetary function, we should promote the internationalization of RMB in three steps, that is, adhere to the three-step strategy of RMB settlement currency, RMB investment currency and RMB reserve currency. In this process, we should steadily promote the process of RMB capital account convertibility, actively and steadily carry out offshore financial business, and graally implement the target area management of exchange rate

historically, which country's currency becomes a valuation currency in international trade and capital flow will take the initiative in international economic transactions. Take capital export as an example. Among the three capital flow centers in the world, when Britain and the United States were capital exporting countries, they all used their local currency as the valuation currency, while after the 1970s, when Japan was the capital export center, they used US dollar as the valuation currency. result; Japanese enterprises and financial institutions are very passive in dealing with the exchange rate risk in the foreign exchange market. When the yen rose sharply, these enterprises and financial institutions suffered huge losses. This is considered by many people as one of the important reasons for Japan's economic recession for more than a decade

for a large economic country, if the local currency can not comply with the trend of domestic trade growth and become the pricing currency of the open international financial market and trade, then the national currency will not become one of the major international reserve currencies. This means that the domestic currency has not obtained the international currency status which is relative to the total economic volume and the total trade volume. In order to deal with the macro financial risk of exchange rate fluctuations, the government must hold a large number of foreign exchange reserves. In today's international monetary system, US dollar and euro are the main pricing currencies in the international financial market, so US dollar and euro have become the main reserve currencies in the world. Correspondingly, the foreign exchange reserves of the United States and the European Union are very small. By the end of June 2007, the value of foreign exchange reserves of the United States was only US $41.5 billion, and that of the European Central Bank was only 41.4 billion euros. In contrast, in Asia, although Japan and China are among the top countries in the world in terms of economic aggregate, neither the Japanese yen nor the RMB has gained the status of an important pricing currency in the international financial market. As a result, China and Japan have the largest foreign exchange reserves in the world

with the development of China's economy, it should be our long-term goal to take corresponding strategies to graally integrate RMB into the international reserve currency system, break the current reserve currency pattern of the western world dominated by US dollar and euro, and promote the construction of multipolar reserve currency system. In this process, China should adopt a consistent graal strategy to promote the internationalization of RMB through the regionalization of RMB. At the same time, we should develop an open international asset market valued in RMB and provide more choices of RMB financial assets for foreign investors. Only after such a stage can RMB really gain the status of reserve currency, and we can get rid of the trouble of worrying about the amount of foreign exchange reserves.

3. What we need to prepare: registered currency issuing entity - setting up local directors of issuing entity stipulated by the government - lawyers confirming the nature of digital currency - compliance review and amendment, issuing white paper - legal documents related to fund raising, combining with practical analysis - successful approval, digital currency can be issued - handling bank account opening
thank you!

4.

The Maltese Government highly supports the blockchain instry. Coin an went abroad in 1994. At that time, there was no legislation in Malta. The Prime Minister of Malta met with the person in charge of coin an, and the blockchain instry moved in one after another. The Department responsible for digital currency licensing in Malta is MFSA

Malta, known as the paradise of blockchain and digital currency, has increasingly improved its policy on digital currency and exchange. In April 2018, the Maltese cabinet passed the virtual financial assets bill (VFA) and the Maltese digital innovation Authority Bill (mdia)

the VFA bill gives the Malta Financial Service Authority (MFSA) the necessary powers to supervise the exchanges, such as issuing instructions, adopting rules, obtaining information from the exchanges, and terminating the operation of ICO. The mDia Act establishes the "Maltese digital innovation authority" (mdia), which will be responsible for licensing and registration issues

in addition, the joint Co-ordination Board (JCB) of Malta will be responsible for the coordination work when the ties of mdia and traditional departments overlap. At the same time, as a member of the European Union, the establishment of an exchange in Malta may also need to meet the relevant provisions of the EU anti money laundering directive
What are the requirements for applying for Maltese digital currency license:

first of all, it must be a blockchain enterprise, which is composed of experienced blockchain practitioners. It needs to register a Maltese company and submit the company name and registrant information
1
2. Provide the name of Maltese company
3. Director information
4. Registered address (Maltese local address)
5. Apply for VAT number
6. Local secretary
the anonymity of cryptocurrency is a challenge to the supervision of various countries. However, Malta has always been friendly to cryptocurrency and investors. After the registration of Maltese companies, it can start to apply for Maltese license

5. In the blockchain, it is the key to solve the problem of ecological development. Various blockchain landing projects, including medical, game, financial and other assets, can be traded through smart contracts. But the current position is still in a relatively early stage. In order to develop the blockchain instry and obtain sufficient funds for domestic enterprise projects, overseas channels are essential. Europe, America and new Antai are good choices. Generally speaking, it is a better choice to carry out relevant overseas business in Singapore. The main advantages are as follows:
1. Singapore is the blockchain financial market center of the whole Asian region, and it is also the most popular settlement area at present, so the service mechanism is relatively perfect
2. The government has a clear regulatory attitude towards ICO, which makes people feel secure and reliable in investment. As early as last year, acra of Singapore released a lot of information about digital currency. The most important point is that the Singapore monetary authority divides tokens into three types, including payment type, security type and application type. Most of the tokens circulating in the market are application-oriented, It also made it clear that there would be no strict supervision at present
3. The flight distance between Singapore and China is about 5 hours, which greatly facilitates the groups who need to do business and trade between Singapore and China. Convenient operation, open and friendly policy also attracted most of the project parties
at present, many enterprises set up Foundation Ltd. (Foundation) in Singapore because ICO is a start-up project based on blockchain, which is a new financing mode of digital currency such as crowdfunding bitcoin on the network by issuing digital encryption token
what should foundations do
1. The name of the foundation is in English (ending with Foundation Ltd.)
2. Three board members are required (one member with Singapore nationality is ZhuoZhi * *, and the other two members are independent * *)
3. Registered capital: no capital verification, starting from SGD 1
4. Business secretary of the company: Singapore
5. Registered address of Singapore: Singapore
the advantage of the foundation is that it is a public company, Such companies are non-profit organizations, and each member bears the guarantee liability. Overseas projects of public welfare foundations do not need to pay tax, and the Inland Revenue Department of Singapore will not tax local capital injection and investment.

6.

At present, the supervision is relatively strict when setting up a foundation to issue money on the exchange. However, Singapore has always been very friendly to digital currency and related instries. At present, digifinex, cointiger and dragonex exchanges, which are well-known in the world, are all set up in Singapore. It has become an instry consensus to issue money on the foundation in Singapore with high credibility, You only need to make a legal opinion according to the regulations. There is no problem in issuing currency. Many of our customers have successfully operated it

in order to issue currency, the Singapore foundation needs to prepare for the establishment of the Singapore foundation and the submission of legal opinions on compliance

how to set up the Singapore foundation

1: the name of the foundation is noted as (Foundation Ltd)
2: provide ID cards, passports or identity certificates of at least three members (one Singapore member provided by our company and two members provided by our customers)
3: the registered capital of a non-profit organization is S $1, and there is no share proportion (who can be authorized as the legal representative in the later stage)
4: registered address (provided by our company)
5: guarantee of new party's lawyer and Auditor (provided by our company)
6: Secretary of new party (provided by our company)
7: registered member of new party (provided by our company)
business scope
1. Development of other software and programming activities n.e.c.
2 Software consultation (the scope of blockchain ICO is basically these two)
registered capital
s $1 (non-profit government stipulates that only S $1)
registration takes 3-5 weeks; After signing and submitting the registration application, the company's establishment can be inquired online within 2-3 working days, and a full set of documents such as certificates and seals can be obtained within 3-5 weeks:

ICO legal opinion. In order to comply with MAS supervision, the stock exchange needs to provide:

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legal opinion: legal opinion to issue token non securities Certificate in accordance with Singapore regulations

white paper: white paper legal compliance lawyer's opinion: prove that the project is legal and does not touch or violate any existing Singapore regulatory regulations

purchase agreement: according to the requirements of Singapore regulations, the private placement terms for raising funds by issuing token of the project are issued

Singapore law governed terms, conditions for public

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not everything needs to be done. If you don't issue currency, you only need to do the first two. If you want to issue currency, you need to do all of them< br />