Crypto Hot Spot Japan Shows No Love for ICOs

Despite Japan’s position at the forefront of crypto-trading and regulation, there is one area in which they sorely lag behind. Although ICOs have exploded onto the world stage over the last couple of years, Japan has seen barely a handful.
No Regulation, No Good
Yesterday I suggested that it was perhaps because of the relatively strong regulatory framework that Japan was such a hot market for cryptocurrency. But as yet there are no clear guidelines relating to ICOs. Perhaps this uncertainty is one reason why they have yet to catch on in the country?
In a statement last October, Japan’s financial watchdog, the FSA, said that some ICOs would fall under existing regulations. However, it stated that these must be reviewed on a case by case basis.
Utility Token or Share?
An FSA official speaking anonymously to the Japan Times confirmed that a key deciding factor would be the intended use of the token. This is roughly in line with several other countries’ position on the matter.
If investors receive dividend-like rewards, these schemes are like investment funds which require a license to operate legally. However, tokens for use in payment …

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