Japan proposed regulatory rules for ICO

In Japan, presented the basic principles for the ICO. They were formed by a research group at the University of Tama, commissioned by the state.

The document presented by the researchers contains requirements for identification of investors, prevention of money laundering, monitoring of the progress of projects and protection of holders of shares and debt obligations.

It is planned that these rules will form the basis of the legislative draft on the ICO. True, they must first be studied and analyzed by the Financial Services Agency of Japan.

Unlike America, China and South Korea, where they are extremely skeptical of the ICO, in the Land of the Rising Sun, the initial placement of the tokens is viewed positively, besides, the authorities do not plan to tie it to securities. But now the organizers of the ICO will need documentation of all plans and changes in them, as well as providing reports on the distribution of raised funds, profits and assets among owners of tokens, shares and debt obligations.

The new rules apply not only to ICO participants, but also crypto exchange, which will have to implement unified standards for listing ICO projects and prohibit insider trading.

Also recently, the crypto world actively discussed the statements of the head of the information department of the Central Bank of Japan, Masashi Kuramoto. He believes that the crypto-currencies have not yet reached their goals, for which they were originally created.

But if in the future the crypto-currencies reach a high level of maturity, then they can make people's lives much more convenient.

"For this, it is important to try this tool. There are reasons to believe that over time, existing crypto currencies will find new ways of application, contributing to further technological development, "the representative of the central bank explained.

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