A new set of rigorous regulations for token issuers proposed by South Korean regulator.

  • South Korea’s Financial Services Commission has issued a report outlining its new definition of cryptocurrencies, along with proposed procedures for token issuers and punishments for non-compliance.
  • The report first addresses token-issuing businesses, which include ICO operators, Decentralized Autonomous Organizations, and nonfungible token minting services.
  • The FSC would require these entities to submit a white paper, obtain a favorable rating from a recognized token evaluation service, obtain a legal review of the project, and disclose regular business reports to users.


Sign Up for nextbigwhat newsletter

The smartest newsletter, partly written by AI.

Download Pluggd.in, the short news app for busy professionals