The bill No 1009 relating to token offerings, received by the National Council on 27 March 2020, is part of the digital development desired by the Principality through the "Extended Monaco" initiative.
Through the drafting of this bill, the Principality intends to allow the raising of digital funds in the form of tokens by providing a legal framework for this alternative method of financing that has emerged thanks to Blockhain technology. Indeed, the issuance of tokens would be subject to a mandatory administrative authorisation, issued by the Minister of State in the form of a label, after consultation with a commission specially set up for this purpose.
The adoption of this bill will thus enable Monegasque public limited companies to use this alternative and innovative method of financing within a defined legal framework.
This bill thus contributes to the wish of the Government of Monaco to make the Monegasque financial centre ever more attractive, by opening it up to digital fundraising (after bill No 995 relating to Blockchain technology and Act No 1.482 for a digital Principality).
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