Japan Unveils Guidelines for Allowing Initial Coin Offerings
- Study group lays out rules, which could eventually become law
- Guidelines focus on investor protection, anti-money laundering
Japan Wants to Allow Crypto ICOs
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Japan is moving toward legalizing initial coin offerings, even as countries such as China and the U.S. restrict the fundraising technique because of their risks for investors.
A government-backed study group laid out basic guidelines for further adoption of ICOs, including rules for identifying investors, preventing money laundering, tracking progress of projects and protecting existing equity and debt holders, according to a report published on Thursday. The proposals will be deliberated by Japan’s Financial Services Agency later this month, and could eventually become law in a few years.