Reed Smith Client Alerts

In the latest of a series of articles commenting on global regulatory developments in cryptocurrency, this client alert explores recent regulatory engagement with the token market (with a particular focus on Europe) and looks ahead to proposals for 2018. Gibraltar’s ICO regulations, as well as the Swiss regulator’s publication of ICO guidelines have arguably set the tone for an interesting year in the developing regulatory landscape.

Authors: Brett Hillis Kari S. Larsen Alexander Murawa Rebecca Kellner

Type: Client Alerts


As noted in our previous alert on this topic, regulators in North America, Asia and Australia have all made token issuers aware that initial coin offerings (ICOs) are firmly on their radar. In September 2017, the UK’s Financial Conduct Authority (FCA) also offered its ‘two cents’ on ICOs1, warning market participants that certain coin offerings could fall within their jurisdiction.