GamerHash receives the maximum amount for its ICO and becomes the first EU company to be licensed in Malta
The latest developments of GamerHash and its GamerCoin (GHX) strengthen its market position as a reference platform for gamers who wish to use their unused computing power for mining. Recently, the platform has had two major reasons to rejoice. The first is the receipt of a $2.8 million price for the private sale of its GamerCoin (GHX) token based on the ERC-20. At the same time, the Bitcoin Revolution company won another spectacular victory: the project’s white paper was approved by the Maltese Financial Services Authority. The GHX may be the first tpken in the EU to be listed under the new legal framework!
A new chapter for the GamerCoin
Thanks to the popularity of the GamerHash platform among gamers (more than 500,000 users), the removal of all technological barriers to mining and the carefully presented future steps, investors quickly joined the private sale. The $2.8 million raised means that the private sale has already been completed, as this is the maximum amount of the ICO, also known as the „hard cap“. We can therefore expect that the GHX token will soon be listed on one of the best exchanges in the market. However, the measure of success of this crypto project must also be seen through the prism of transparency and legal compliance. In this sense, the development of the project is revolutionary, as GamerHash paves the way for other European crypto-currency companies.
Legal compliance in Malta
Malta is widely regarded as a blockchain island and a pro-Crypto country. To obtain a licence from the Maltese financial authority, a crypto-money company has to go through a long and demanding process. The authorities undoubtedly apply the highest standards of integrity in project supervision, thus ensuring that investors have confidence in the project. Unfortunately, many projects have failed to meet these expectations.
The process of proving the transparency and reliability of GamerHash (and the three legal teams) for the registration of the white paper involved many issues such as operational, functional, legal, compliance and anti-money laundering bases. On the technical side, a technical review of the Smart Contract was carried out; its 216 pages show how detailed the process was.
The undoubted success of the registration of the White Paper with MFSA [Malta Financial Services Authority] is the last step before the GHX token is produced and registered on a reputable trading platform. With only a handful of companies having obtained the Maltese licence, this means that GamerCoin will be the first EU project to launch a token while fully complying with the Maltese legal system.