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Initial coin offerings have raised more funds than venture capital sofar and now have surpassed early stage VC funding.
The amount of money raised by start-ups via so-called initial coin offerings (ICOs) has surpassed early stage venture capital (VC) funding for internet companies.
But not only start-ups get their financing this way - a number of companies have raised a large amount of money via ICOs. ICOs are a way for high-tech companies to raise money by selling investors tokens in exchange for equity, similar to an initial public offering (IPO).
In 2017, there has been a total of 235 ICOs which collectively have raised $3,700,682,293
But ICOs have received a lot of criticism and are under scrutiny from regulators:
The U.S. Securities and Exchange Commission (SEC) said in July 2017 that the country's securities laws may apply to the sale of new digital coins.
Meanwhile a statement of the Monetary Authority of Singapore (MAS) describes ICOs as "vulnerable to money laundering and terrorist financing risks due to the anonymous nature of the transactions, and the ease with which large sums of monies may be raised in a short period of time."
German BaFin warns from „High risks for consumers“.
Are the warnings legitimate? What risks appear by initial coin offerings?
Can we provide a legal frame already today? Is it reasonable to start your own ICO or rely on other solutions?
Contrary to some rumors, tokens can also be distributed legally in Germany.
In this event we will present you how:
ICO – what is it exactly?
Finding countries,where legal compliance must be achieved and the legal framework requirements are met.
What is the function of your token? Here, for example, the question arises whether profit claims or company shares should be sold together with the token.
If the token design is in place and it is clear which regulatory restrictions apply, the tax issue must be clarified.
In some cases, there may still be room for maneuver through the choice of the country of domicile of the issuer. What about the VAT?
In a white paper, companies describe their business model and explain what the revenue generated by token sales should be used for.
How to make it properly?
Terms & Conditions / Cancellation rights:
What about the limitation of liability and cancellation rights? Unfortunately, many companies are copying the terms and conditions of other ICOs …
Even if tokens are not securities/stocks, the seller needs to be informed about investors risks. This includes informing buyers that the invested assets can quickly become worthless if risks - including technical ones - materialize.
Law, Tax & Compliance
Is there a solution to the issues above in Germany?
My own ICO!
A success story
Alternatives to own ICOs
A blockchain-based and investor-directed platform which bridges the world of cryptocurrency and equity
Financing your startup or high-tech company with classic methods and ICOs - how to combine it?
A vibrant discussion with...
Next Big Thing
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