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While no official steps have yet been taken, the People’s Bank of China (PBOC) in Beijing has raised the possibility of a regulatory sandbox environment for future ICOs as the government works through its options for potential regulations, focusing on providing a legal framework for Initial Coin Offerings in China (ICOs) moving forward. In addition, options such as investor education, project review, and increased information disclosure have been mentioned as targets for a new framework. The PBOC’s previous emphasis on Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols are also expected to continue with ICO regulations. Other potential regulatory possibilities include requiring companies to have a working product before their ICO, requiring more information disclosure including risk and investor assessments, and reducing speculative investments.
Over the past few weeks, little-known ICOs have grabbed the media's attention. ICOs, or 'Initial Coin Offerings', have become a new way for individuals and start-ups to obtain funding. A significant number of these ICOs are originating from China, so we decided to take a look at the dynamics behind these new funding vehicles.
MSCI, the influential provider of stock market indexes, has made the long-awaited decision to add Mainland Chinese A shares to its emerging markets index. 222 stocks from the Shanghai and Shenzhen exchanges will be added to the index. These 222 shares will represent just 0.7% of the emerging markets index, which is tracked by and estimated $1.6 trillion in funds.
Hike messenger, a popular phone messaging service app in India, has recently decided to introduce payment services on its platform.
Government reforms have had contrasting effect on the securitization and corporate debt markets in India. Significant issues such as the high level of bad loans at public sector banks, bankruptcy laws which were not conducive to recovery of non-performing assets (NPAs), securitization of debt and the need to boost the corporate debt market, go hand in hand in India.