Fusang Exchange Delists SPICE Token from Its Private Market

Fusang Group announces that it is delisting SPICE tokens from Fusang Exchange’s market. It will be effective from 18:00 MYT on 21st May 2021, trading of the SPICE token shall be suspended on the FUSANG Exchange.  

As a licensed Securities Exchange in Labuan, Malaysia, Fusang Exchange adheres to the “Direction on Dealings with Specified Person and in Restricted Currency”, pursuant to the powers conferred by subsection 216(1) and section 261 of the Malaysia Financial Services Act 2013 [Act 758].

On 5th May 2021, the Fusang Exchange received notice that the Labuan FSA (Financial Services Authority) has concluded that the SPICE token, issued by SPICE VC, is substantially controlled by Israeli persons. Fusang Exchange’s Listing Committee met on 18th May 2021 and upheld the decision to delist SPICE under Section 17.1 (iv) of its Rules of Exchange.

Fusang Exchange has requested that the Issuer publish an announcement on the delisting. With effect from 18:00 MYT on 21st May 2021 all trading of the SPICE token shall be suspended. All holders of the SPICE tokens on the Fusang Exchange are advised to seek professional advice on any holder implications.

About Fusang Group

Fusang Group was established in 2015 and is dedicated to providing Asian markets with institutional financial infrastructure for the digital asset economy. With offices in Hong Kong, Malaysia, and Singapore, the team works to fulfill its mission of serving investors in a secure, compliant, and convenient way.

​​ABOUT SPiCE VC

SPiCE VC is a Venture Capital fund providing investors exposure to the massive growth of the blockchain/tokenisation ecosystem. SPiCE invests globally in platforms and ecosystem providers, enabling access to capital markets, banking, real estate, and other industries enhanced through Blockchain technologies. The fund focuses on companies who stand to benefit the most from the massive growth of the industry. Combining institutional know-how, hands-on management, entrepreneurial innovation, and professional investment experience SPiCE’s management team has experience in hundreds of tech funding rounds totalling billions of dollars; as entrepreneurs, investors, and executives. SPiCE has offices in the US, Switzerland, Singapore and Israel.

​Photo by Vlad Shapochnikov on Unsplash

Further reading: Fusang wins new security-token listings