The Ministry of Finance and the Office for Financial Market Innovation (SFI) of Liechtenstein partnered with The Tokenizer to create the “Security Token RegRadar Report” in order to create a knowledge-sharing platform for governments, enterprises and investors about the current status of STO-ecosystems in the different jurisdictions.
This initial Security Token RegRadar Report presents the results of a comparative analysis of the current regulatory environment of security tokens and the emerging security token industry across the following countries:
- Austria
- Canada
- Germany
- Hong Kong
- Liechtenstein
- Malta
- Singapore
- Switzerland
- UK
Other countries could have been included – and other countries will be included in future RegRadar reports – but these nine countries were chosen because they are all generally considered to be among the frontrunners within the blockchain and token economy.
The overall purpose of this report is to understand the current regulatory status – options and limitations – of security tokens and security token offerings (STOs) in these countries. And to get a sense of how friendly, knowledgeable and visionary the governments and the authorities of the countries actually are when it comes to security tokens and STOs.
Six main areas of interest
The structure of this report follows the structure of the underlying questionnaire sent to the legal experts from the nine countries. It is divided into six main sections or areas, starting with the most basic questions about ‘the countries’ legal and political environment’ regarding security tokens – and crypto and blockchain in general.
Section two is about ‘the STO preparation process’, which again is divided into A: ‘Available information’, B: ‘Foundation of a company’, and C: ‘Compliance and regulatory procedure’. Section three covers ‘the security token issuance process’ divided into A: ‘The creation of tokens’, and B: ‘The public sale’….
