Project update: Monaco MCO token functionalities to be maintained — no upgrade to support an asset contract Crypto.com Follow Oct 31, 2017 · 2 min read

Monaco is committed to full compliance with applicable laws and regulations surrounding the rapidly evolving payments, stored value and cryptocurrency markets. It also wishes to ensure that the MCO token is available to receive and purchase in a wide range of jurisdictions.

In the months since we completed the Monaco token sale, we have continued to monitor developments in key markets. We are pleased that a number of regulators around the world have clarified their positions relating to token regulation. However, in some jurisdictions, fresh restrictions also now apply.

In light of these developments and to help ensure the longevity of the Monaco project and MCO token, we have decided:

· to proceed with the development of the core functionalities originally envisaged for the MCO token, being its use in the Monaco ecosystem; and · not to add functionalities that create unnecessary legal and regulatory risk in certain jurisdictions. In particular, we will not be implementing an upgrade to the Smart Contract System to give MCO tokens an asset contract functionality.

In addition, MCO tokens and other Monaco initiatives continue to be subject to jurisdictional restrictions — that is, they are not available in all jurisdictions. If you are in any doubt as to your own legal or regulatory position, please ensure you obtain the advice you need.

We remain fully committed to the success of the Monaco project. We will continue to monitor market developments, with the support of our legal and other professional advisors.

We will provide further updates as the project unfolds. In the meantime, please contact us at contact@mona.co if you have any questions.

- Monaco Team