ICO's (Initial Coin Offerings) in Ireland

Cosgrove Gaynard Solicitors

As Ireland re-images itself in the post modern world of tax transparency, it will hopefully be at the forefront in proviing a business friendly regulatory environment for ICO's and cryptocurrencies.

With the prospect of IPO level funding for start-ups ICO (Initial
Coin Offerings) are becoming increasingly popular are a means to generate
capital for technology businesses.  

As with IPOs pressure will mount on
the authorities to regulate ICO's to avoid scams and protect
investors. As Ireland re-images itself in the post-modern world of tax
transparency, it will hopefully be at the forefront in providing a business friendly regulatory environment for ICOs and
cryptocurrencies which would in this author’s opinion serve Ireland interest’s
well in much the same way as our tax laws have in the past.  

The recent
senate hearing in the United States provide useful guidelines on how law makers
view the whole cryptocurrency landscape.   Some of the important
takeaways are:

1.  
The preservation of
innovation is a foremost concern.

2.  
Whether a token/coin is
considered a security is still unresolved.

3.  
There is no real need to
halt the practice of ICOs and cryptocurrencies from a consumer protection
perspective yet.    

4.  
Due to the decentralised
nature of the technology strict regulation may result in a lost opportunity to
any one country.

5.  
Exiting regulation may
already provide a solid framework from which to regulate this burgeoning
industry.

6.  
The industry does not
yet pose a significant threat to traditional practices.

Cosgrove Gaynard Solicitors remain at the forefront of this new
and exciting technology and how it interacts with business.  As the first
law firm in Ireland to confirm we accept payment in Bitcoin and other
cryptocurrencies we endeavour to keep our clients informed of new developments
in this area.  

See more on the recent Senate hearing from the US here: https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39

If you need advice on any of the issues discussed above, contact Solicitors in Dublin city center or the best solicitors in Dublin.

All news
Want to Start a Fintech Company in Ireland? Fintech and the law

Check out our new video on setting up a fintech company in Ireland! Do you know what fintech laws you need to abide by? Need a fintech solicitor? Our video has all the fintech answers you need.

Text Link
EU cryptocurrency regulations 2022 update

Crypto regulations Ireland and the EU - update. The law around cryptocurrency may change again, with a set of compromises to the original MiCA legislation announced by the European Union on the 28th of February 2022.

Text Link
Recent case - Norwich Pharmacal Order obtained against Coinbase Europe Limited by Cosgrove Gaynard Solicitors

Cosgrove Gaynard Solicitors were delighted to be involved in a recent case for a private client in the High Court, in which we sought a Norwich Pharmacal Order to direct Coinbase Europe Limited to hand over details of an account/account holder who may be connected with stolen bitcoin.

Text Link
Awards - Fintech Law firm of the Year in Ireland 2022

Awards: Fintech Law firm of the year in Ireland 2022

Text Link
Need a Property Solicitor?

If you’re buying or selling a property, changing mortgages, or investing, it's going to be absolutely vital that you have the services of an expert property solicitor in your corner.

Text Link