Bank of Lithuania, Secure Nordic, project, Commission, SEB

Bank of Lithuania asks market participants’ opinion on Guidelines on Securities Token Offerings

Recently, the issue of securities tokens has been attracting considerable interest from the market participants. To this end, the Bank of Lithuania launched a public consultation regarding its prepared Guidelines on Securities Token Offerings.

The Guidelines reflect the approach of the Bank of Lithuania to this financial instrument, particularly focusing on qualification of tokens (what tokens qualify as securities tokens or other financial instruments), assessing specific cases, and providing recommendations related to the issue of securities tokens and explaining applicable legal regulation.

security token offering
security token offering

During the public consultation, the market participants are welcome to provide their suggestions on the contents of the Guidelines and their opinion on the following questions:

– In your opinion, is the scope of the Guidelines sufficient and all topics discussed are relevant to you? Should any additional relevant topics (issues) be included into the Guidelines?

– Do you agree with the Bank of Lithuania’s assessment of a sample set of six ICOs crypto-assets provided in section 4.4 of the Guidelines?

– What is your opinion on specific risk factors indicated in section 5.5 of the Guidelines: all of them are relevant, do you have any suggestions on what risk factors should be included additionally in section 5.5 of the Guidelines?

– Do You agree with the smart contract auditing mechanism provided in section 5.5 of the Guidelines, i.e. should smart contracts related with securities token offerings be assessed by an independent third party, which would provide its conclusions on a smart contract and its compliance with a Securities Token Offering document?

The market participants are welcome to participate in the consultation and provide their suggestions and comments regarding the Guidelines until 20 May 2019 via email

Guidelines on Securities Token Offerings

Supervision of financial market participants