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German Regulators Approve $280 Million Ethereum Token Sale

Jul 23, 2019😃Bullish

Announced Tuesday, the Berlin-based firm has from Germany's financial regulator, BaFIN, for the 250 million euro ($280 million) offering. By virtue of being regulated, the token will be open to any retail investor anywhere with no minimum investment restriction.

To comply with know-your-customer (KYC) and anti-money-laundering (AML) regulations, IDnow will verify prospective token buyers’ identities. The vendor’s process takes three minutes on average before a user can purchase tokens, Glatz said.

Blockchain real estate is a busy space. Florian Glatz, co-founder of Fundament Group, said typically what has been seen in the past are private placements that have not required a prospectus or a financial market authority’s approval.

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