Japan Introduced New Requirements for Conducting an ICO
The Financial Services Agency of Japan has revealed new requirements for the ICO procedure. The document describes the requirements for identifying investors and the ability to determine the impact on potential buyers, prevent money laundering, as well as protect buyers of tokens. In addition, the FSA proposal specifies certain types of trading, as well as a ban on insider trading. This is reported by Bloomberg. In order to conduct an ICO in Japan, companies need to obtain registration, as well as provide accurate plans for their work and spending. After the start of token sales, start-ups will have to report on the distribution of funds raised, as well as interest payments on profits. The publication notes that in general, Japan does not plan to bind tokens to securities and has a positive attitude toward the sale of cryptocurrency. Last April Japan became the first country to recognize cryptocurrencies. Subscribe to The Coin Shark news in Telegram: https://t.me/thecoinshark