IDEAS home Printed from https://ideas.repec.org/a/bpj/zfbrbw/v31y2019i1p10-26n4.html
   My bibliography  Save this article

ICO vs. IPO – Prospektrechtliche Anforderungen bei Equity Token Offerings

Author

Listed:
  • Hahn Christopher

    (Dr. iur., Rechtsanwalt, trustberg LLP, Berlin und München)

  • Wilkens Robert

    (Doktorand am Lehrstuhl für Wirtschaftsstrafrecht an der Universität Leipzig und Of Counsel bei trustberg LLP, Berlin)

Abstract

Mit Initial Coin Offerings (ICOs) ist auf Basis der Blockchain-Technologie eine neuartige Form der Unternehmensfinanzierung entstanden, die das Potenzial hat, klassische VC-Investments in den Schatten zu stellen. Trotz der sprachlichen Ähnlichkeit haben ICOs meist wenig mit einem Börsengang (Initial Public Offering, IPO), zu tun. Mit den sog. Equity Token Offerings (ETOs) hat sich jedoch eine besondere ICO-Form herausgebildet, die zwar weniger in sprachlicher, dafür aber umso mehr in funktionaler Hinsicht mit einem klassischen IPO vergleichbar ist und nun auch in Deutschland in den Startlöchern steht. ETO-Initiatoren treibt dabei vor allem. die Frage nach einer möglichen IPO-ähnlichen Prospektpflicht um.

Suggested Citation

  • Hahn Christopher & Wilkens Robert, 2019. "ICO vs. IPO – Prospektrechtliche Anforderungen bei Equity Token Offerings," Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), RWS Verlag, vol. 31(1), pages 10-26, February.
    • Handle: RePEc:bpj:zfbrbw:v:31:y:2019:i:1:p:10-26:n:4
    DOI: 10.15375/zbb-2019-0104
    as

    Download full text from publisher

    File URL: https://doi.org/10.15375/zbb-2019-0104
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.15375/zbb-2019-0104?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:zfbrbw:v:31:y:2019:i:1:p:10-26:n:4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.