On the Philippine government regulating ICOs and why it does not affect Hero Token HeroToken Follow Jan 28, 2018 · 2 min read

The Philippines Securities and Exchange Commission recently filed a cease-and-desist order against four companies and an operator running an initial coin offering (ICO) in the Philippines, citing securities registration regulations according to sources.

This might alarm some people because our affiliate company Pawnhero is based in the Philippines. However, Hero Token ICO is not a local Philippine ICO. The entity conducting the ICO is different from PawnHero Pawnshop Philippines Inc. the entity which operates the online pawnshop PawnHero.

We have partnered with a highly experienced legal team with experience in Crypto-Currencies and Blockchain and have procured legal opinions that confirm HERO Origen Token is not a security or a financial instrument under the laws of Switzerland and the British Virgin Islands.

All of the proceeds from the sale of the Hero Origen Token will be donated to a non-profit Foundation we are establishing in Switzerland. The main purpose of the Foundation is to promote financial inclusion, transparency, and efficiency in emerging markets.

We hope this helps in alleviating any fear you might have had because of the recent news. Rest assured that Hero Token will not be hindered by it.

Best regards,

Your Hero Token team