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The glitzy world of ICOs or Security Token Offerings which we know as STOs occupy the headlines with news about multi-million dollar offerings and listings on prominent cryptocurrency exchanges. Unknown to most, this world of ICOs and STOs depends on a global team of legal professionals who evaluate their compatibility with the legal frameworks. These professionals provide the assurances on whether a particular token is a security or a utility token and if it is fit to be listed on an exchange.
The exchanges use the Memos to determine whether a token is compatible with their policies and whether it complies with the guidelines issued by the regulators and then decides whether a particular token or coin should be listed on the exchange. The legal memo also provides the assurance to the exchange that a particular coin is well established and will not hurt the interests of its clients.
Considering the vast importance attached to the legal memo by exchanges, it becomes crucial that it covers all queries which may be put forward by an exchange. These may include the status of the token as a security or a utility token, compliance with Know Your Client or Anti Money Laundering Requirements at the time of the ICO, etc. The exact information exchanges seek is only known by legal professionals working in this sector.
Empire Global has been involved in this industry and has issued legal memos for several coins and tokens which are now trading in cryptocurrency exchanges across the world. You can get in touch with Empire Global to understand more about the ICO process and how to take your business forward by getting your token listed on a renowned exchange.
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