ICO AND STO AS METHODS OF FUNDRAISING AND THEIR LEGAL FEATURES

Abstract

The aim of this article is to analyze the features of methods of raising funds such as ICO (initial coin offering) and STO (securities token offering). These methods are currently one of the most popular methods of corporate financing. The peculiarity of these forms of financing is that the process takes place on a digital platform, which avoids transaction costs and the participation of third parties, financial intermediaries. The article examines the value of crypto assets, distinctive features, statistical data on the conducted offers of digital assets at the global level. The author also conducted a comparative analysis of ICO and STO and studied the issue of permitted tokens in our republic according to the current legislation of the Republic of Uzbekistan. This paper also reflects a brief analysis of the practice and legislative regulation of the issue of tokens in foreign countries, where, at present, the largest developers and issuers of tokens are located. In particular, regulatory legal acts of countries such as the USA, Singapore and Switzerland have been studied. The legislation of the Republic of Uzbekistan allows the issue of secured tokens. And this article reveals the question of the permissibility of ICO or STO in the Republic of Uzbekistan.