One of the largest European crypto-currency exchanges, with the launch of the IEO platform, takes on all aspects of the law and regulations. In just a few days, the first collection of cryptocurrencies, whose aim is to develop the project, is to start. The entire collection will be held under the patronage of BitBay.
The first stock exchange offer of the project
The return to the subject of the public offering of shares and tokens is returning, thanks to the largest Polish crypto-currency exchange. In just a few days it will conduct its first stock exchange offer – IEO (Initial Exchange Offering) – concerning the QAN project.
In contrast to the unbridled and uncontrolled ICO (Initial Coin Offering), IEO is to be a new and much safer way to raise funds related to crypto-currency projects. This type of collection takes place under the protective cover of the crypto-currency exchange, so from the legal and regulatory point of view the blockchain project has a greater chance of development in optimized and readable, i.e. “safer” conditions. The stock exchange offering such a start-up service (IEO Launchpad), while allowing a given project, corresponds to its reputation, and the participants of the project provide almost certain profits. The point is that the project signed by the stock exchange, or token, will certainly appear on such a stock exchange. Investors can also be sure that the project of issuing their own token has been properly verified by the stock exchange, in this case BitBay.
The President of the Estonian licensed company BitBay, Paweł Sobków, confirms these assumptions. In his words, he points out that before a project is admitted to the BitBay platform, it is multidimensionally audited. Authors of the project intending to collect money from investors must present reliable data on its implementation, and above all, its usefulness. These people are checked, including meetings with them. Sobków points out that the platform cares about not allowing scams to enter the market.
Indeed, the legal form has to be checked very carefully, because there are many different procedures for this type of token issue, for different geographical areas.
The minimum amount of exemption from the prospectus rules applicable in the European Union is EUR 1 000 000, but that does not mean that the Member States do not have their own rules in this regard. For example, the exemption threshold in Germany is EUR 8.5 million and Estonian law sets it at EUR 2.5 million.
BitBay and QAN
The first IEO to be released by BitBay will be QAN and this will happen exactly on November 18, 2019. Characteristic for the platform is the position of the main emphasis in its project on the resistance of blockchain technology to quantum technologies. The quantum segment is still in its infancy, but in the light of Google’s activities, the construction and development of protective shields against quantum attacks may soon be a necessity.