AdelBlockchain-focused startup incubator Adel has created a separate LLC in the Isle of Man to “fuel innovation” by setting up a clear legal and tax regime for crowdfunding.

The new legal entity will be registered as a designated business with the Isle of Man Financial Services Authority. The venture will follow AML and due diligence regulations, avoiding participants from being affected by fraudulent investors.

“We are very excited to be the first ICO to comply with Anti-Money Laundering and Counter-Terrorism Financing regulations,” says Gabriel Dusil, Co-Founder and Board member at Adel.

“As distributed ledger technology becomes more accepted by mainstream investors, we hope the legal structure and protection offered by Adel will act as a template for future ICOs. It is our top priority to protect the contributions of our members, protect our staff, and establish a strong brand.”

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by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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