iComply ICO, found online at iComplyICO.com, aims to help users launch legal and compliant ICOs. Find out how it works today in our review.
What Is iComply ICO?
iComply ICO is a platform for ICO/token compliance. It automates the legal processes involved with creating your own token and launching a token sale.
The goal is to legitimatize ICO securities – tokens – as an emerging financial instrument.
iComply ICO can work with new and existing tokens to help make them compliant and legal.
Obviously, compliancy is a big concern among today’s startups. The “Wild West” days of ICOs are coming to an end, and regulators around the world are starting to crack down. This means companies need to create tokens that are compliant and legal – or else they risk backlash from regulators and lawsuits from investors.
That’s where the Vancouver, Canada-based company behind iComply ICO sees an opportunity. Let’s take a closer look at how iComply ICO works.
How Does iComply ICO Work?
iComply ICO has four key features and functions. Together, these features make it easier for new and existing token companies to maintain legality and compliancy.
The end result is that iComply ICO streamlines legal and accounting processes by providing automated checks and balances throughout the issuance, purchase, and resale of encrypted digital share certificates.
Basically, it’s an automated series of checks and balances designed to help companies maintain compliancy throughout their ICO.
iComply Compliance Score:
iComply’s Compliance Score feature involves using a web app to filter logic to determine whether or not an ICO’s tokens are a secured security. Basically, it’s a web app implementation that uses the “Howey Test” to determine if an ICO is a security.
Legal Process Automation:
iComply automates the process of ensuring all documents related to an ICO are compliant. Obviously, compliancy requires the same standard wording across all documents related to an ICO: if one document uses different language, then it could be the difference between a token being compliant or non-compliant. With that in mind, iComply ICO’s platform allows the automation of procedures to create compliant prospectuses, whitepapers, OM agreements, and other documents. Customers can also subscribe to iComply ICO to ensure regulatory reporting and investor disclosures remain compliant at all times.
KYC And Identity Verification:
iComply ICO has a KYC and identity verification API that allows investors to have security and trust when investing in ICOs. It allows ICO issuers to trust in a standardized KYC and verification mechanism as opposed to creating their own (which could lead to liability issues). Obviously, KYC compliancy is already starting to become a major concern for ICOs, with a growing number of ICOs requiring KYC verification. iComply ICO aims to position its KYC verification platform as the industry standard API.
Accredited Investor Pools:
iComply ICO’s KYC verification platform led to a database of vetted, accredited investors. iComply ICO can use this pool to facilitate private transactions that are subject to less onerous regulation.
Ultimately, the goal of these features is to lead to “pre-factor compliance”. Pre-factor compliance allows for verification before, rather than after, potential issues. Regulators around the world haven’t issued specific statements about ICOs, or specific requirements, but this will likely occur in the future – and iComply ICO wants to help companies prepare.
Who’s Behind iComply ICO?
iComply ICO is a product offered by iComply Investor Services, Inc., a Vancouver-based company dedicated to automating ICO compliancy. iComply ICO is the company’s flagship product.
The company was founded in 2017.
iComply ICO Conclusion
iComply ICO is an ICO regulation platform that aims to automate all of the compliancy requirements related to ICOs. Using the iComply ICO platform, ICOs can ensure that every stage of their product meets verification and compliancy requirements.
iComply ICO is currently in beta form. You can test the platform for yourself today at iComplyICO.com.