A Tiny Caribbean Island Looks to Lead in ICO Regulation

The government of Anguilla could soon become the first country to formally harness the red-hot growth of initial coin offerings (ICOs) through legislation aimed to create regulatory clarity for the industry and attract new investment to the island jurisdiction.

The Caribbean nation’s House of Assembly is expected to vote on the “Anguilla Utility Token Offering,” or AUTO Act, on Dec. 21, after which companies will be able to register their ICOs with the government. Anguilla is hoping the fervor for token offerings could create a booming new revenue source, while assuring startups their project won’t fall subject to securities regulations. ...