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Komfie Manalo, Opalesque Asia: Fund managers who want to allocate in initial coin offerings (ICOs) or cryptocurrency funds are expected to have the same level of governance as any other structure, said Leanne Golding, senior vice president at the Harbour Trust Company, a Cayman-based fiduciary services firm.
Golding told participants of the latest Opalesque 2018 Cayman Roundtable, "So not dissimilar to saying the regulations are the regulations and that they are there to regulate the industry regardless of the category of the asset… We would have the same concerns if we didn't get the answers we were looking for."
Investors drive change
According to Golding, there are certain aspects of the cryptocurrency fund sector that need to mature and will require regulation if the manager wants to attract the institutional investors. She said the markets have seen this evolution in the industry for quite some time and added that change is ultimately being driven by the investors.
She went on to say, "In this environment, if we had an inquiry from either a crypto fund or a fund that was investing solely in ICOs and it didn't pass our initial vetting process during the first meeting or discussion, we would pass and walk away. This is the same approach we have to any new potential relationship."
She further explained that although the specifics will be different, she is goi...................... To view our full article Click here
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