Japan Looking at Allowing ICOs but With New Guidelines

Japan Looking at Allowing ICOs but With New Guidelines

Japan differs from what seems to be a regional practice of banning ICOs outright, which is what China and South Korea did, citing fraudulent fundraising and excess speculation. However, sources within the Korean government have already told the media that regulators, tax agencies, and justice officials are considering re-legalizing ICOs should “certain conditions be met,” as reported by Cryptonews.com.

Japan is seeking to legalize Initial Coin Offerings (ICOs) and has a government-backed study group lay out basic guidelines for further adoption, according to a report by the Center for Rule-making Strategies at Tama University in Tokyo, published on Thursday.

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