The Marshall Islands SOV Foundation is set to start selling SOV subscription rights to international investors by auction over a period of 18 months, to give the government time to judge how the SOV works within the current market and also assess demand for the instrument. It will give the government an indication of how strong is international interest, the liquidity on the exchanges and if the instrument will be volatile. The pilot will allow them time to make up their mind about whether to push forward with a full-scale launch and put in place the relevant institutions and regulations.
Researchers at Commonwealth Scientific and Industrial Research Organisation, Australia’s national science agency, have found that SARS-CoV-2, the virus responsible for COVID-19, can survive for up to 28 days on common surfaces including banknotes, glass – such as that found on mobile phone screens – and stainless steel. However, the virus tends to survive longer on paper banknotes rather than polymer ones.
An international business company carrying out its business outside Seychelles may conduct a virtual asset sale without a physical presence in Seychelles. There is no separate legislative or regulatory frame work with respect to virtual assets in Seychelles. The primary legislation which governs securities and investment products in Seychelles is the Securities Act, 2007 (Securities Act). The Securities Act specifically lists the financial products that are considered securities under the Act and does not include virtual assets/ cryptocurrencies under the list.