Home / Crypto News / The Financial Services Agency has revised the Financial Commerce Act to protect individual investors and restricted the ICO

The Financial Services Agency has revised the Financial Commerce Act to protect individual investors and restricted the ICO

The news agency reported on 1st of this month that the FSA will establish regulations for ICOs that companies will raise funds through virtual currencies . In response to circumstances where ICO fraud is going abroad, we will restrict solicitation and aim to protect individual investors.

“ICO”, restrictions on solicitation by individual investors = cryptocurrency regulation, to the revision of the KMCI – Financial Services Agency https://t.co/RtX02ljiJE

– Current affairs dot (@ jijicom) December 1, 2018

It is said that it is aimed at submitting a revision proposal of the Financial Instruments and Exchange Act and the Fund Settlement Law next year at the ordinary Diet session, and it is said that future registration will be obligatory for the FSA to sell its own currency.

In this revision proposal, it is about ICO of two types of tokens, “Investment type” which can obtain dividend and “Settlement type” which can be used for purchasing your own service.

According to the new regulation, purchasing “investment type” is limited to professional institutional investors such as funds that can be confirmed including risk judgment, individual investors can participate in the purchase of “settlement type”, however, It seems that we will establish self-regulation rules such as screening and thoroughly protect investors .

In addition, it is reported that it is a policy to incorporate in the prohibition clause of the Money Commerce Act, such as acts of fraudulently raising the price of the cryptocurrency by deliberately flowing false information.

Although the FSA regulates ICOs, opportunities for investors to participate will be limited, but as long as ICO fraud is eradicated and projects that are disadvantageous to investors decrease It is conceivable.

Article Source: Jiji.com


Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/fsa-to-regulate-ico/

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