These days, it seems as if Japan is at the forefront of anything crypto related. As someone who actively follows and invests in ICOs, I'm glad to hear that Japan is taking the lead in fully legalizing ICOs, given the adverse stance of two other Asian powerhouses, China and South Korea.
The guidelines were proposed by a government-back ICO Business Research Group in a report published by Tama University and The Center for Rule-making Strategies. Overall, the report places emphasis on identifying investors through Know Your Customer (KYC) practices, ensuring that ICOs do not disadvantage existing shareholders and debt holders as well as preventing unfair practices (e.g. insider trading) and guaranteeing adequate cyber security measures.
As cryptocurrencies, particularly ICOs, are quite the mess from a legal and tax/accounting point of view, I am very excited about this development and the precedence that it sets. Having a regulated sphere will bring a host of benefits, such as investor protection, the elimination of illegal practices, an increase in investments and lower barriers to entry due to regulatory certainty.
However, it can be argued that once regulations become common place in crypto sphere, crazy returns might be a thing of the past, an element that makes them so attractive to us in the first place.
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