German Financial Supervisory Authority approved a EUR 250 million tokensale
According to the German Federal Financial Supervisory Authority (BaFIN) this Tuesday, the company was granted the right to attract 250 million euros by offering a regulated token to retail investors anywhere in the world without a minimum investment limitation.
"This is the first case of approval of the prospectus of blockchain bonds in the real estate sector, but not the first in the context of blockchain itself," the agency said.
The organizers of Fundament claim that ensuring the compliance of the project with the second European Union Directive "On Financial Instruments Markets" (MiFID II) proved to be a difficult task. Initially, the prospectus was submitted in December 2018, after which every 2 or 3 weeks the regulator sent 20-page documents with lists of new requirements to the startup.
Previously, the U.S. Securities and Exchange Commission (SEC) granted the developer of Blockstack's decentralized computing network and application ecosystem permission to sell tokens to retail investors under rule A+.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Congratulations @ivans5! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!