Topic: UTRUST - page 261. (Read 314264 times)
Looks like they can even reach 10.000 backers before the end, this is a great spread among investors.
Where it your team based?
business is in switzterland and developement team in portugal.
@devs
why have you miraculously deleted the "approved from finma" logo on your website, now?
That's something I also would like to know now...
"Lastly, FINMA clarified that even though the act of crowdfunding via token issuance may not be regulated as a financial activity, some other regulations could still be applicable:
- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)
- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)
Please reread the quote. First, it reiterates that the ICO by itself is NOT REGULATED, as I said. And second, it differentiates that once a token becomes a payment instrument, regulations COULD apply. You are aware that, at this point, the utrust token is no such payment instrument. You may also remember that all of utrust's future planning is still subject to approval from FINMA (meaning they are not approved as of yet - and how could they, with hardly two weeks of company existance).
Still thinking I and others are spreading FUD? Well - did you notice how the "Regulated by FINMA" slogan just now disappeared from their homepage?
Instead we still see a huge "Featured in Yahoo" logo, which - surprise surprise - links to their own press release. 
Before: https://imgur.com/a/wgndI
Now: https://imgur.com/a/IyJNn
Dear utrust, I am still waiting for your explanation: When I bought tokens during the pre-ICO, from whom did I purchased these tokens? Who was the company and where was it registered? And more importantly, what happens now with my tokens since the ICO is under a different company and under different terms and conditions which I did not agree on during the pre-ICO.
Well, I must admit that they deleted the "Regulated by FINMA" now, should have been announced here and explained.
But coming back to my quote. Don't you think you could argue that the Utrust token can be seen as a "payment instrument" and therefore would require AML and KYC obligations for the ICO?
Where it your team based?
business is in switzterland and developement team in portugal.
@devs
why have you miraculously deleted the "approved from finma" logo on your website, now?
I think ICO will be all sold out before its deadline about 9 days from now. Congratulations UTRUST community. 
i think you are right approximately 2,762,428(on 500,000,000) tokens still remaining to sell,small amount so in my opinion ico will end for sure before deadline...
Where it your team based?
Even though I am not an expert on FINMA regulation, I think you better should double-check that it is right what you are saying here. Otherwise, you just look like a Newbie who is FUDing around here.
Honestly I am not worried how I look to you. I did share a link to the latest FINMA guidelines in which FINMA clearly stated that they do not regulate ICOs at this point. This stands in sharp contrast to what utrust has been trying to sell to us, repeatedly.
"Lastly, FINMA clarified that even though the act of crowdfunding via token issuance may not be regulated as a financial activity, some other regulations could still be applicable:
- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)
- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)
Please reread the quote. First, it reiterates that the ICO by itself is NOT REGULATED, as I said. And second, it differentiates that once a token becomes a payment instrument, regulations COULD apply. You are aware that, at this point, the utrust token is no such payment instrument. You may also remember that all of utrust's future planning is still subject to approval from FINMA (meaning they are not approved as of yet - and how could they, with hardly two weeks of company existance).
Still thinking I and others are spreading FUD? Well - did you notice how the "Regulated by FINMA" slogan just now disappeared from their homepage?
Instead we still see a huge "Featured in Yahoo" logo, which - surprise surprise - links to their own press release. Before: https://imgur.com/a/wgndI
Now: https://imgur.com/a/IyJNn
Dear utrust, I am still waiting for your explanation: When I bought tokens during the pre-ICO, from whom did I purchase these tokens? Who was the company and where was it registered? And more importantly, what happens now with my tokens since the ICO is under a different company and under different terms and conditions which I did not agree on during the pre-ICO.
Is it true that the demo platform will be ready by end of this year to some private marketplaces?
FINMA make the rules and we follow and therefore we are - as you say - regulated by them. We have KYC & AML in place and comply with all the current regulations laid upon us by them. More importantly, we have never stated anywhere that are partners or have any kind of partnership with them, so please stay true to the facts here.
This is not difficult to explain. Many ICOs that are located in Switzerland don't do KYC&AML and are not compliant to FINMA's regulations and therefore act in non-compliant manners. What this means for them in the future is anybody´s best guess.
Another hint is that Filipe is going to represent UTRUST in a conference in Switzerland very soon.
See the companies that are going there:
http://forums.theasianbanker.com/switzerland-wealth-innovation-tour/speakers
Regarding being registered as a financial payment provider or authority: Of course we are not yet, these registrations come hand in hand with large amounts that need to be paid and we are still in the fundraising stage at this point.
Hope this helps!
This is not difficult to explain. Many ICOs that are located in Switzerland don't do KYC&AML and are not compliant to FINMA's regulations and therefore act in non-compliant manners. What this means for them in the future is anybody´s best guess.
Another hint is that Filipe is going to represent UTRUST in a conference in Switzerland very soon.
See the companies that are going there:
http://forums.theasianbanker.com/switzerland-wealth-innovation-tour/speakers
Regarding being registered as a financial payment provider or authority: Of course we are not yet, these registrations come hand in hand with large amounts that need to be paid and we are still in the fundraising stage at this point.
Hope this helps!
I am happy you replied very fast to the accusation about FINMA. This helps a lot, thanks!
Indeed!
Good moderation!
UTRUST is a great project with an excellent team.Love it!
I think ICO will be all sold out before its deadline about 9 days from now. Congratulations UTRUST community.
i think you are right approximately 2,762,428(on 500,000,000) tokens still remaining to sell,small amount so in my opinion ico will end for sure before deadline... 
Gratz, almost sold out.
yep looks good. if it wasn't for the fork, this would already be sold out.
FINMA make the rules and we follow and therefore we are - as you say - regulated by them. We have KYC & AML in place and comply with all the current regulations laid upon us by them. More importantly, we have never stated anywhere that are partners or have any kind of partnership with them, so please stay true to the facts here.
Wrong. You tell people to stay true to the facts while you are the one who is deciving investors by spreading incorrect information. See Finma regarding the "Regulatory treatment of initial coin offerings":
https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/4dokumentation/finma-aufsichtsmitteilungen/20170929-finma-aufsichtsmitteilung-04-2017.pdf?la=en
Under 2. Regulation:
Quote
ICOs are currently not governed by any specific regulation, either globally or in Switzerland.
Even though I am not an expert on FINMA regulation, I think you better should double-check that it is right what you are saying here. Otherwise, you just look like a Newbie who is FUDing around here.
"Lastly, FINMA clarified that even though the act of crowdfunding via token issuance may not be regulated as a financial activity, some other regulations could still be applicable:
- AML and KYC Obligations will apply “where the creation of a token by an ICO vendor involves issuing a payment instrument. " (Source)
Gratz, almost sold out.
FINMA make the rules and we follow and therefore we are - as you say - regulated by them. We have KYC & AML in place and comply with all the current regulations laid upon us by them. More importantly, we have never stated anywhere that are partners or have any kind of partnership with them, so please stay true to the facts here.
This is not difficult to explain. Many ICOs that are located in Switzerland don't do KYC&AML and are not compliant to FINMA's regulations and therefore act in non-compliant manners. What this means for them in the future is anybody´s best guess.
Another hint is that Filipe is going to represent UTRUST in a conference in Switzerland very soon.
See the companies that are going there:
http://forums.theasianbanker.com/switzerland-wealth-innovation-tour/speakers
Regarding being registered as a financial payment provider or authority: Of course we are not yet, these registrations come hand in hand with large amounts that need to be paid and we are still in the fundraising stage at this point.
Hope this helps!
This is not difficult to explain. Many ICOs that are located in Switzerland don't do KYC&AML and are not compliant to FINMA's regulations and therefore act in non-compliant manners. What this means for them in the future is anybody´s best guess.
Another hint is that Filipe is going to represent UTRUST in a conference in Switzerland very soon.
See the companies that are going there:
http://forums.theasianbanker.com/switzerland-wealth-innovation-tour/speakers
Regarding being registered as a financial payment provider or authority: Of course we are not yet, these registrations come hand in hand with large amounts that need to be paid and we are still in the fundraising stage at this point.
Hope this helps!
I am happy you replied very fast to the accusation about FINMA. This helps a lot, thanks!
On the site it is not clear how much more to sell tokens. Who knows? ICO may end in a few days.
Why its not clear? 500,000,000 - 422,237,572 = 77,762,428 tokens left.
On the site it is not clear how much more to sell tokens. Who knows? ICO may end in a few days.
Why its not clear? 500,000,000 - 422,237,572 = 77,762,428 tokens left.
I think ICO will be all sold out before its deadline about 9 days from now. Congratulations UTRUST community.
2 things I would have liked to see differently:
Burning half of their own tokens hurts the bounty hunters (Unless there's a solution now? i didn't read the last few pages.),
Of course if the ico goes 50M over what it was on the previous end time, they would still get the same as they would have,
but they would still be 5% of 50M=2.5M(!) short of what they would have had if they hadn't burned those 50M.
You can easily correct this by only burning 497.5M instead of 500M.
You could also argue that there are BHs which were counting on the money to buy something, which they now can't do until a later date. I don't think there's much of a solution for this one.
It would have been better if they had increaced the price of the tokens to 7 or 7.5c when the first round ended.
this would increase token price at launch a bit, and give incentive to start trading. It's too late for this though unfortunatly.
Burning half of their own tokens hurts the bounty hunters (Unless there's a solution now? i didn't read the last few pages.),
Of course if the ico goes 50M over what it was on the previous end time, they would still get the same as they would have,
but they would still be 5% of 50M=2.5M(!) short of what they would have had if they hadn't burned those 50M.
You can easily correct this by only burning 497.5M instead of 500M.
You could also argue that there are BHs which were counting on the money to buy something, which they now can't do until a later date. I don't think there's much of a solution for this one.
It would have been better if they had increaced the price of the tokens to 7 or 7.5c when the first round ended.
this would increase token price at launch a bit, and give incentive to start trading. It's too late for this though unfortunatly.
Utrust hardcap going to hit on top, i think left 10%, hurry up guys Utrust going on moon. already sold out tokens 24,622,539/500,000,000. don't miss this opportunity. Utrust platform will on top for online payment processor.
I think you missed a 4 in front of the sold out tokens
Otherwise it would be a bit disturbing 
Utrust hardcap going to hit on top, i think left 10%, hurry up guys Utrust going on moon. already sold out tokens 24,622,539/500,000,000. don't miss this opportunity. Utrust platform will on top for online payment processor.
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