Step 7: Select an Issuing Country

Mandatory

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Selecting an Issuing Country

Select the issuing country from the predefined Issuer Company Country List, following these rules:

1. Domestic Eligibility

   1. If the issuer’s business registration country (verified via KYB) is in the Issuer Company Country List, that country can be selected as the issuing jurisdiction.

2. Alternative Selection

   1. If the issuer’s business registration country is not on the list, the issuer must select an alternative country from the Issuer Company Country List.

Not every type of security token can be issued from all jurisdictions provided in the issuing country list. Certain jurisdictions have specific regulatory frameworks that may not accommodate all types of tokenized securities. For example, equity tokens are generally not recommended for issuance from most EU countries due to restrictive regulations and compliance complexities surrounding tokenized equity instruments. It is crucial for issuers to evaluate the compatibility of their token type with the regulatory requirements of the selected jurisdiction to ensure legal and operational feasibility. Consulting legal and regulatory experts is highly advised for making an informed decision, especially since Issuer Company Domicile is among most impactful decisions determining attractiveness for investors, tax obligations, and registration requirements.

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Issuer Company Country List

United States, British Virgin Islands, Cayman Islands, St. Vincent, United Kingdom, Singapore, Hong Kong, Liechtenstein, Switzerland, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

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Why This Step is Important

• Aligns token issuance with a recognized regulatory jurisdiction, ensuring compliance.

• Provides transparency and clarity to investors about the governing legal framework.

• Enhances operational clarity for managing tokens within the jurisdiction’s laws.

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