Monaco is one of those places that you fall in love within an instant, with its rich history, stunning scenery and its reputation for class and of course an outstanding grand prix circuit.
Monaco prides itself on remaining competitive on the international financial stage, a strategy which serves it well, encouraging businesses and the wealthy alike to flock to the small nation.
To remain at the forefront of financial advancements, the Monacan government are pushing ahead with plans outlined last month to introduce new security token offering (STO) laws.
Although plans are being finalised, the bill allows Monaco based companies to undertake a fully legal STO and lays the foundations for a security token secondary market, including the regulation of companies looking to work within the security token market such as exchanges, custodians or advisors.
Ultimately what the bill offers is the potential for Monaco based companies the opportunity to partake in alternative private fundraising methods and what we may be seeing is the next phase in the evolution of finance.
The increasing development of new STO laws is fascinating and holds great potential for companies to digitize assets which will also be a driver for mass adoption of digital currencies. With high profile countries such as Monaco making moves in this area more are set to follow suit, and we’ll cover it all on the Dragon Blog so make sure you stay tuned for the latest Blockchain and cryptocurrency news from around the globe.