Initial Exchange Offerings (IEOs) are an alternative channel for fundraising for innovative businesses through an offering of digital tokens, which can only be conducted via an IEO platform. In 2020 the SC has released the
Guidelines on Digital Assets (Guidelines) that outlines the framework for fundraising through a digital token offering, and the regulatory requirements for registering and operating an IEO platform.
Under the Guidelines, IEO platform operators will be required to assess and conduct the necessary due diligence on the issuer, review the issuer’s proposal and the disclosures in the whitepaper, and assess the issuer’s ability to comply with the requirements within the relevant Guidelines, before helping facilitate the offering.
Interested parties who wish to register as an IEO platform operator can start submitting their applications to the SC before the deadline for applications on 15 February 2021. Application and queries related to IEO platform operator can be directed to
[email protected].
Key regulation for IEO operators can be found in the
Guidelines for Recognized Market, in addition to other relevant regulations and guidelines.