It is undeniably easy to create an Initial Coin Offering (ICO) nowadays. A myriad of companies are advertising their ICOs without presenting an original whitepaper or a coherent roadmap. Another overlooked fact is compliance with the law, which when ignored can often sink a project, resulting in an unfortunate loss for its investors.
While we believe in flexibility, freedom and empowerment, we are also committed to abiding by the law so as to make advances in the blockchain ecosystem without regulatory mishaps. We have hence invested heavily in working with a European legal team that is experienced in ICO-related legislation, as well as in exchanges. Our first decision was to register as a security token, even though this required a significantly greater investment of both time and money. Being registered as a security token makes market manipulation and insider trading explicitly illegal, thus reinforcing an ethical environment.
Over the past months, we have spent an enormous amount of time trying to uncover and meet legal requirements so that we can allow as many countries as possible to participate in our ICO. Unfortunately, legal and tax impediments in place within certain countries forced us to exclude them from the ICO process so as not to hinder or significantly delay our objectives.
Besides complying, Nash is striving to contribute to the regulatory environment. In April, we participated in the Beyond Blocks summit, where new and innovative blockchain startups discussed solutions, financial innovation, technological challenges and governance in the space.
In line with this objective, we are launching the Smart Economy Expo alongside ecosystem partners. This is an independent virtual organization backed by Nash and the City of Zion that will arrange educational events and exhibitions, focused on legislative and executive regulating bodies across the globe. Our first event will happen at the European Parliament in Brussels from 2–4 May 2018 and will feature five major projects: Nash, NEO, City of Zion, Ontology and Moonlight. The Expo is not open to general public, but you can read more about it and its agenda here.
We are already discussing bringing the Expo to other jurisdictions. If you are a member of a legislative body and want to bring the Smart Economy Expo to your country, please contact us at [email protected].