PRESENTATION & SUMMARY OF THE ICO LAWYER’S TASKS
Maître Jonathan POUGET, a Ph.D. in law and ICO lawyer, offers advice and advocacy regardless of your geographical location. The firm operates with dedication and competence, safeguarding and enhancing your financial interests. Email: jonathan@pouget-avocat.fr / Phone: 0607625574.
I. What is an ICO?
An ICO (Initial Coin Offering) is a cryptocurrency-based fundraising method that allows for faster and less restricted capital raising compared to traditional methods. ICOs issue Utility Tokens in exchange for cryptocurrencies from investors.
These Utility Tokens offer various benefits to investors but do not grant ownership or shares. Initial ICO organizers retain full control of the company.
One of the most famous ICOs led to the development of the Ethereum Blockchain and the Ether (ETH) cryptocurrency.
II. Drafting a White Paper to Obtain a Visa from the French Financial Markets Authority (AMF) – ICO lawyer
A) Is this visa mandatory?
No, but only ICOs with AMF visas can be publicly promoted in France.
B) What is the purpose of the AMF visa?
Building trust in your project! The cryptocurrency realm has been prone to scams, including ICOs, Altcoin developments, price manipulation, NFT sales, etc. The AMF visa signifies that the issuer meets legal requirements and provides a complete and understandable investor information document.
The visa increases the likelihood of a successful crypto-fundraising campaign.
C) Who receives the Visa?
The visa is attached to the ICO itself, not the organizing company. Therefore, every new ICO would require a new visa if the issuer decides to pursue it.
D) What does the AMF assess for issuing the visa?
The AMF mainly verifies if the applicant meets these conditions:
- Incorporated as a legal entity in France;
- Information document meets AMF requirements;
- Funds and digital assets tracking system is established;
- AML/CFT compliance system is in place.
E) How to obtain the AMF Visa? – ICO Lawyer
Your ICO lawyer assists in drafting the essential Information Document (White Paper) needed for the AMF visa.
This document is distinct from the White Papers found on NFT collection sites or some ICO projects. AMF-approved White Papers must have specific content determined by the AMF.
The ICO lawyer highlights the following in the White Paper for AMF purposes:
- Detailed description of the issuer’s project, token offer, reasons for the offer, and intended use of funds and digital assets collected;
- Detailed description of token rights and obligations, as well as terms and conditions for exercising these rights;
- Detailed description of the offer’s characteristics, including the number of tokens to be issued, token issuance price, subscription conditions, and minimum/maximum offer amounts;
- Technical details of token issuance;
- Methods to track and safeguard funds and digital assets collected, as per Article 712-7;
- Essential details about the token issuer and key contributors to the project’s conception and development;
- Risks associated with the issuer, tokens, token offer, and project realization;
- Anti-money laundering and counter-terrorism financing measures;
- Asset tracking and safeguarding mechanisms, etc.
III. Company Incorporation and Tax Optimization
ICO fundraising should not be done as an individual. This risks legal, fiscal, social, and competitive violations. Before incorporation, the ICO lawyer informs you about applicable tax regimes for various company forms and their leaders.
The ICO lawyer advises on the most suitable company form for your objectives and can assist with incorporation.
IV. Drafting a Shareholders’ Agreement for Secure Partner Relations – ICO Lawyer
The shareholders’ agreement secures partner relations in ICOs. It defines:
- Profit distribution among partners;
- Management of collected cryptocurrencies from the ICO;
- Exit conditions from the company;
- Confidentiality obligations, etc.
V. Drafting Contracts
Your project might require diverse contracts:
- Service agreements with blockchain developers;
- Copyright transfer agreements with artists;
- Partnership agreements with other companies, artists, athletes, or public figures, etc.
Your ICO lawyer is competent in drafting necessary contracts for your project’s development.
The ICO lawyer can handle any other requests related to ICOs, Blockchain, new technologies, and privacy concerns.
ICO Lawyer
Contact the law firm
0607625574
