Part of the contents of the Japanese Finance Department's revised encryption business guidelines

According to Coinpost, on June 21, the Japanese Financial Services Agency revised part of the third volume (financial company relationship) of the cryptocurrency industry-related business guidelines. The revised summary is as follows: This revision clarifies the contents of a series of (previous) publications that have been mentioned in the (previous) publications, such as the management situation of virtual currency transaction service providers and the countermeasures against the risk of virtual currency theft. The revision also added ICO as a new oversight point and updated the content of the ICO (including IEO). The revised document mentioned that in the case of ICO and IEO sales, there are often incidents of fraudulent or fictitious project plans. In order to prevent the occurrence of inadequate user protection, the following monitoring points will be redefined: 1. The project party is conducting ICO and passing the transaction. When conducting an IEO, it is necessary to reasonably define the calculation basis of the token sales price, the plan and feasibility of the target business, and disclose relevant information to the user; 2. When conducting the IEO, it is also necessary to review the issuer's financial status, relevant sales rules, and Other things that help determine if the token sales are appropriate and establish an appropriate review system.