AX1 is launching a capital appreciation token that enables holders to benefit from the large-scale mining of various leading cryptocurrencies.
Stuart Anderson, CEO of AX1, said: “In this instance, the conditions attaching to the issuing company acknowledge that ICOs are a sensitive activity, and therefore require the adoption of systems, controls, policies and procedures to prevent many of the concerns and abuses associated with cryptocurrencies and ICOs, such as poor investor protection, superficial documentation, an absence of audit requirements, lack of transparency and the constant specter of money laundering and the financing of terrorism.”
On this final point, and after conducting a thorough due diligence process on a number of KYC/AML providers, AX1 chose to partner with Coinfirm due to its facilitative platform and its unparalleled AML/CFT credentials in the crypto-space.
Although the market is constantly progressing and changing, AML is a required focus and there is now need for any ICO to be compliant and adoptable traditionally. At Coinfirm we’ve provided the standard for AML and source of funds risk and are happy to work with projects such as AX1 on further bringing that standard with them to the world.
Paweł Kuskowski, CEO and Co-Founder of Coinfirm
Coinfirm serves as a foundation for the safe adoption and use of blockchain. A recognized leader in their field and among the most influential blockchain and regtech companies, the blockchain agnostic Coinfirm AML/CTF Platform uses proprietary algorithms and big data analysis to provide structured, actionable data that increases efficiency, reduces costs and streamlines compliance to near automation. In addition, Coinfirm develops dedicated blockchain solutions such as their data provenance platform Trudatum, currently being piloted for adoption by multiple financial institutions. Coinfirm has also recently released their AMLT Token to allow for market participants to help rate others and democratize the financial system.
CONSUMER RISK WARNINGS:
Neither the ICO nor the issuer of the ICO is regulated by the Jersey Financial Services Commission.
ICOs are a highly speculative form of investment and are not subject to existing capital market regulations.
Investors should be prepared for the possibility of losing their investment completely.
For full consumer and investor risk warnings please see the Information Memorandum
Click here for the JFSC’s public statement on ICOs