{"id":120006,"date":"2018-04-05T11:00:33","date_gmt":"2018-04-05T15:00:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=120006"},"modified":"2021-08-10T13:13:36","modified_gmt":"2021-08-10T17:13:36","slug":"japan-unveils-guidelines-to-legalize-initial-coin-offerings-icos","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/japan-unveils-guidelines-to-legalize-initial-coin-offerings-icos","title":{"rendered":"Japan Unveils Guidelines to Legalize Initial Coin Offerings (ICOs)"},"content":{"rendered":"
While countries like the United States and China aim to restrict Initial Coin Offerings (ICOs), Japan is firmly on the path towards legalizing the popular (and, at times, controversial) fundraising method.<\/strong><\/p>\n Japan is leading the charge in the effort to effectively regulate<\/a> Initial Coin Offerings while ensuring positive growth and investor protection in the cryptocurrency space.<\/p>\n According to a report<\/a> written by the government-backed ICO Business Research Group and published by Tama University and The Center for Rule-making Strategies, \u201cthe legal position of ICO is unclear and\u00a0tax\/accounting issues related to ICO remain in a large scale. In some cases, measures for\u00a0investor protection are not sufficient. Such issues are considered problematic throughout the\u00a0world.\u201d<\/p>\n The report continues:<\/p>\n ICO is still in its infancy and has no industry practices yet. Appropriate rules must be set to\u00a0enable ICO to obtain public trust and to expand as a sound and reliable financing method.<\/p><\/blockquote>\n As such, the authors have proposed regulatory guidelines to facilitate safe practices in the country\u2019s ICO space.<\/p>\n First and foremost, the Group proposes \u201ctwo principles on the issuance of\u00a0tokens\u201d which focus on investor protection:<\/p>\n The Group has also laid out guidelines for practical operations:<\/p>\n Furthermore, the Group proposes five principles to ensure investors are protected when buying and selling tokens:<\/p>\n The proposals and guidelines laid out by the Group\u2019s report should help Japan\u2019s continued push to lead the world<\/a> in effective cryptocurrency regulation.<\/p>\n The report also notably follows a similar set of guidelines<\/a> for issuing digital tokens\u00a0proposed by\u00a0Russia\u2019s Ministry of Telecom and Mass Communications (MinComSvyaz) \u2014 which positions Russia\u2019s national currency, the Ruble, as an integral part in the ICO process.<\/p>\n What do you think of the proposals laid out by Japan\u2019s ICO Business Research Group? Do you think other countries should consider the same guidelines? Let us know in the comments below!<\/strong><\/em><\/p>\n Images courtesy of Bitcoinist archives, Shutterstock<\/em><\/p>\n The post Japan Unveils Guidelines to Legalize Initial Coin Offerings (ICOs)<\/a> appeared first on Bitcoinist.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nJapan Preps ICO Guidelines<\/h3>\n
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The Specifics<\/h3>\n
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