On November 26, the Financial Services Agency (FSA) of Japan held an internal meeting to discuss the possibility of allowing private crypto initial coin offering (ICO) projects.
Nikkei exclusively reported that local financial authorities are actively exploring the legalization of ICOs for institutional investors and accredited investors, as long as they are lawfully conducted within the boundaries of existing financial regulations.
Will South Korea Follow Japan?Following the report of Nikkei, on December 2, local media outlet JIJI Press reported that the FSA is close to releasing an official guideline on ICO regulation to speed up the process of creating a vibrant ICO startup ecosystem in the country.
Kakao, the largest internet conglomerate in South Korea, recently established its blockchain arm in Japan to run a private token sale for a project called Clay.
https://www.ccn.com/could-south-korea-follow-japan-in-allowing-private-crypto-icos/
