The Jersey Financial Services Commission (JFSC) has issued a
guidance note containing information about our approach to ICO
activity.
ICOs are a digital way of raising funds from the public using
distributed ledger technology. The guidance note details the
JFSC's approach to businesses that wish to launch an ICO in
Jersey. The note sits alongside the risk warning for potential
investors in ICOs issued by the JFSC in 2017.
The guidance note represents an innovative and balanced approach
to the treatment of this activity, enabling ICOs to be launched in
Jersey with a number of controls in place to help reduce some of
the risks associated with them. Whilst, under this framework, the
JFSC does not regulate the ICOs or the companies that issue them,
it does require the companies to satisfy certain minimum standards
and to appoint a regulated Trust and Company Service Provider to
administer the company.
