Initial Coin Offering, Token Sale or Coin sales (“ICO”) is an innovative new way of raising capital for project based ventures. Hong Kong is becoming a strong ICO hub due to its regulatory systems, business friendly tax system, robust corporate services industry and its proximity to the Chinese cryptocurrency market. L&Y was one of the law firms advising the very first public ICO in Hong Kong on a wide variety of issues including regulatory advisory (e.g. whether the token sale would be considered as a collective investment scheme (“CIS”)), marketing, strategy and technology advisory. L&Y works closely with the client’s team to ensure all aspects of the ICO are catered for in a diligent manner. We believe that our passion for innovation motivates us to deliver considerable added value for our clients and their ICO projects.