Antigua and BarbudaAntigua and Barbuda Digital Assets Business Act 2020, Security of an Initial Digital Asset Offering
Digital Assets Business Act, 2020 (No. 16 of 2020), Sch. I, para. 12
A sector security regimes rule binding private bodies.
- Instrument type
- an act of a legislature
- Obligation class
- Security
As of .
What it requires
- This Act has been enacted and comes into effect on a day to be appointed by the Minister by Notice published in the official Gazette (section 1(2)), and no commencement notice has been located. When it is in effect this duty binds a licensee that conducts an initial digital asset Offering under the Act (reached by declaring that you are a crypto-asset provider).
- Ensure that appropriate mechanisms are in place in respect of the security of digital assets issued to recipients, confidentiality, disclosure of information and connected matters, and that applicable Antigua and Barbuda laws are complied with in these respects (Schedule I, paragraph 12(2)).
These lines are LexLint's reading of the law's text, as of .
Who enforces it
Enforcement body
The Financial Services Regulatory Commission, which the Act defines as the Commission.
Settledness
- As of
- Open questions
- Has the Minister published a Notice appointing the day on which the Digital Assets Business Act, 2020 comes into effect?
What this law does
Paragraph 12(2) of Schedule I to the Act provides that the licensee shall ensure that appropriate mechanisms are in place in respect of the security of digital assets issued to recipients, confidentiality, disclosure of information and connected matters. Paragraph 12(1) of Schedule I requires a licensee to carry out an internal compliance review with respect to the conduct of an Offering.
Section 1(2) of the Act provides that it comes into effect on a day to be appointed by the Minister by Notice published in the official Gazette. The Governor-General assented to the Act on .
When LexLint raises it
When your app profile says your app is a crypto-asset provider.