Australia and Brazil among countries readily accepting ICO
The Cryptoverse has received some positive news from the Southern Hemisphere. Contrary to belief that STOs will take over ICOs sometime soon, Australia and Brazil are readily embracing Initial Coin Offerings. The former is not only accepting ICO token sale, but the country is also actively promoting the same.
The Australian Treasury has produced an issues paper that not only hints the country’s acceptance of ICOs, but the paper also put forth the potential benefits of ICOs and how the country can leverage new ICO-based opportunities.
Singapore, the global financial center, is one of the most benefited cities to favor ICO fundraising, and now Australia, too, does not want to miss out the opportunity to establish itself as a hub for IT companies that favor ICO fundraising. This is the reason why the issues paper provided by Australian Treasury outlines how other countries are setting up themselves as a hub for IT companies involved in ICO fundraising.
One thing that is clear from the paper is that many Australian companies prefer staying in the country to going out in search of funds, thanks to ICO token sale ventures. The author of the paper also mentioned how ICOs are the ideal option for start-ups that cannot go for IPO. Based on what is mentioned in the paper, it is clear that Australia is certainly strongly in favor of ICO market.
Another good news doing the rounds of the cryptocurrency market is that a cryptocurrency market exchange has won a legal battle against a bank in Brazil. Despite bank’s efforts to shut all possible doors for the cryptocurrency exchange, the judgment was made in favor of the exchange.
As more and more countries embrace Initial Coin Offerings, it is pretty clear that ICOs are here to stay. You can expect many more ICO projects to hit the crypto market. The token sale platform will not only benefit their owners by sufficient fundraising, but will also bring significant advantages to investors in the form of special bonus and profits. However, investors need to be really cautious while putting their money into an ICO project since all ICOs are not the same. Choose a reliable project like Cryptoxygen to let your ICO investment yield desired profits.