The evolution of finance has caused changes in the development of technology and the desire to raise funds for the new entrepreneurial generation of startups. This has brought about initial coin offerings, or ICOs, a new way of raising capital, which combines crowdfunding and cryptocurrency using blockchain technology.
Startups and small and medium enterprises (SMEs) with transparent payment records, good business plan and vibrant vision are definitely qualified to raise funds with crowdfunding, according to SEC.
The Finance Ministry has authorised operating licences for four digital asset businesses, and is considering a company, while denied licences for two businesses seeking to become authorised exchanges.