1. As previously reported, the company successfully passed the audit by the American and Chinese investment funds.
2. Howey Test within the framework of the circulation and legalization of the BMCoin token
Some tokens, depending on their characteristics, in accordance with US law applying the principle of compliance may be governed by either US securities laws or similar state legislation. This means serious limitations for the ICO.
In addition to the regulations related to the placement of non-documentary securities, issues related to the provisions of the anti-money laundering legislation and consumer protection legislation, as well as the provisions of individual laws, may also arise in the US and many other jurisdictions, depending on from the functions of the token.
In the case of the Securities and Exchange Commission vs. Howey, the US Supreme Court has developed a test to determine whether the transaction is related to an investment contract. An investment contract is a type of security.
The Howey test as an important aspect of the legal framework “Fundamentals of Legal Regulation of Crypto-Currency” clarifies whether cryptographic lock-block tokens with certain characteristics of “non-documentary securities” are considered to be securities.
3. Bank of Memories after passing an audit by experts can state that the BMCoin token corresponds to the Howey test, because the token is an internal tool of the system, and does not fall under any one parameter, which from the legal point of view could negatively affect the further conversion of the token.
2. Bank of Memories received a technical conclusion from the Metarhia design bureau, which resulted in a recalculation of the technical component of the platform, which influenced the possibility of repeatedly increasing the amount of allocated memory.
3. The second official representative office in China, Shenzhen City, is preparing for the opening, the address of the office will soon be posted on the website.
4. Thanks to the technical audit of the project, it became possible to integrate two additional unique services into the project
– Self-learning AI with the function of personal adviser
– Insurance sent crypts (sending to the future of the crypto currency, which is approved by the Bank of Memories)
5. In connection with this, the price for the token from official representatives and on the site https://bmcoin.io will be raised to $ 0.15 from January 22, 2018
6. The list of exchanges on which the BMCoin token will be addressed will be placed in the near future, after the price change for the token