I.C.O. and Legal Regulation of Public Offering of Transferable Securities

Abstract

The article tries to answer the question whether the legal regulation of public offering of transferable securities applies to initial coin offering (abbreviated as "I.C.O."). The suggested answer is that some tokens emited through I.C.O. may be subject to the transferable security definition stipulated by MiFID II and, thus, subject also to the regulation contained in appropriate directives or regulations.

Keywords

• I.C.O.
• MiFID II
• crypto-assets
• tokens
• initial coin offering