Australia takes an individual approach towards ICOs
ASIC, the Australian governmental commission focused on securities and investments, has published the legal framework for companies planning to conduct an ICO (initial coin offering). The document on the new regulations has been posted on the ASIC’s official website.
The structure of projects is the main factor that influences the ASIC’s policy towards an ICO, the document tells. If the project has more properties of an investment scheme, it’s regulated as an investment scheme. An ICO project can also be classified as offer of a derivative, shares offer, or a non-cash payment facility.
A natural recommendation emerging from this is that if your ICO plans to work with Australian residents, it’s better to file a good and transparent report about your project structure. This might be what the Australian authorities wanted to stimulate in the first place when designing the document.
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