In Japan, presented the main principles for conducting ICO

In Japan, a state-supported research group at Tama University presented the basic principles for conducting ICO. The document sets out the identification requirements of investors, prevention of the laundering of money, tracking progress of projects and the protection of the holders of shares and debentures. In order to prepare a new legislative document on their basis, the principles should be studied and analyzed by the Japan financial services Agency (FSA).
The main difference of this approach from the practices adopted, for example, in the USA, China and South Korea, is generally a positive attitude to the ICO and the lack of its direct reference to securities. At the same time, the organizers of the ICO need documentation of all plans and changes in them, as well as providing accurate reporting on the distribution of attracted funds, profits and assets among the owners of tokens, shares and debt obligations. However, the crypto currency exchange must adopt the unified standards of listing of the ICO projects and prohibit insider trading.

The author of the law on legalization of cryptocurrency exchanges in the country Takuya Hirai (Takuya Hirai) acted as the main Advisor of the group. It also included the head of the crypto exchange bitFlyer Yuzo Kano (Yuzo Kano) and employees of banks Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group.
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