Japan to Unveil ICO Regulation and Legalization Plan

The Financial Services Agency of Japan will consider the proposal, and in a few years it can acquire the status of law
05 April 2018   869

The Center for Normative Strategies at Tama University presented a list of regulations for the regulation and full legalization of the ICO in Japan. This is reported by Bloomberg.

The list of requirements prepared by the government-sponsored group includes provisions on money laundering combat, identifying investors, tracking project progress, and protecting investor interests. The Financial Services Agency of Japan will consider the proposal, and in a few years it can acquire the status of law.

The document describes the principles of granting guarantees, for example, the principles of tracking progress according to white paper and determining the impact on potential investors.

In addition, the document establishes certain principles of trading, customer identification, minimum requirements for listing on exchanges and a ban on insider trading.

In the document, tokens distributed through ICO are directly referred to as securities. A similar position is held by the US Securities and Exchange Commission. 

ICOs are groundbreaking technology, so if we can implement good principles and rules, they have the potential to become a new way to raise funding.
 

Kenji Harashima

Researcher, Mizuho Research Institute.

The document was developed by Takuya Hirai, a member of the ruling Liberal Democratic Party, who was directly involved in the creation of a licensing system for exchanges last year, Yuzo Kano, head of Japan's largest exchange bitFlyer, as well as experts from the country's largest banks: Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   111

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.