Token Disclosure Policy

Effective Date: November 1, 2017

At Digital Currency Group, we support the development of global blockchain networks and infrastructure. Since 2013, hundreds of developers have used token sales to raise funding for open, distributed blockchain network development. We are selectively participating in these token sales.

Token sales are an emerging mechanism for funding the development of blockchain networks and shared, public infrastructure.  This token policy is intended to provide guidance to both DCG employees and the projects that DCG supports through participation in their token project.

(a) If a public crowdsale of tokens to the general public, including unaccredited investors, is contemplated, we will not disclose any token investments prior to that sale.

(b) If a public sale is contemplated that will be limited to accredited investors only (in the US), our participation can be disclosed at any time. However, if at any time we become aware of the project launching a public crowdsale to the general public, we will contact the organizing party and ask our name be excluded from any marketing associated with the sale.

(c) Any project that wants to use the name Digital Currency Group, DCG, the name of any employee or principal of the firm, or the name of any of our affiliates or investors for publications, marketing materials, investor meetings, etc. needs to contact DCG for our express written approval.

(d) We will disclose all token project participation on our public website,, upon completion of the requirements stated above. We will also disclose all token participation to our subsidiary, CoinDesk, to ensure they can maintain journalistic integrity in their coverage of projects in which DCG may have a financial interest

(e) In the case that our media subsidiary, CoinDesk, asks about our participation in a token project prior to completion of conditions (a) and (b) stated above, we will disclose our participation and CoinDesk will list it in the footer disclosures of any article they write. Our participation will not be listed in the body of the article unless conditions (a) and (b) are met. The article may precede the conditions for disclosure stated above, but this policy will take precedence over all items noted above.

We will continue to adjust and refine these policies and procedures as this new funding mechanism matures.

Please direct any questions, comments, and requests related to this policy to