Legal Aspects

The legal framework is still in its early stages to answer blockchain’s technological and user aspects. However, SimplyMember takes legal responsibility, social responsibility and requirements carefully to the notice. SimplyMember takes the following list into consideration when raising funds using the ICO:



  1. Adherence to the GDPR, Anti Money Laundering (AML)

  2. Following KYC regulations

  3. Take all the necessary steps to prevent Counter Terrorist Financing (CTF)

  4. Execution of proper registration and disclosure statements

  5. Drafting and pointing out the strong legal disclaimers across all the applicable documents

  6. Determining whether the token or coin falls under the scope of security and financial regulation

  7. All the applicable taxation implication of the token of its buying/selling timeline or during ICO

  8. Duly considering the legality of the coin offered to investors/buyers



The best way to adapt the regulatory landscape involves giving all the stakeholders adequate and accurate information in a comprehensive and clear manner along with building the smart legislation strategy. GDPR compatibility, following up to the approved SSI and ICO, is proceeded and created for consumers to enact in a cyber and information secure environment. SimplyMember conducts good governance, and business agreements which are presented by observing constantly evolving regulatory developments at the Finnish and EU level.