JAPAN
Russia
China
N. Korea
Japan
S. Korea
Law and Practice Contributed by: Keisuke Hatano, Takeshi Nagase, Takato Fuki and Tomoaki Katayama Anderson Mori & Tomotsune
Tokyo
Contents 1. Overview of Blockchain and Crypto-Assets p.362 1.1 Blockchain p.362 1.2 Crypto-Assets p.364 2. Regulation p.366 2.1 Regulators and International Alignment p.366 2.2 Crypto-Asset Regulatory Frameworks p.366 2.3 Regulated Firms and Legal Wrappers p.367 2.4 Token Issuance p.368 2.5 Market Abuse p.368 2.6 Non-Compliance p.369 3. Licensing and Set-Up Requirements p.369
3.1 Licensing Requirements p.369 3.2 Set-Up Requirements p.370 3.3 Change of Control p.371 3.4 Passporting p.371 4. Cross-Border Services p.371 4.1 Marketing p.371 4.2 White Labelling p.372 5. Decentralised Finance p.372 5.1 Ability to Use DeFi p.372 5.2 DeFi Structures p.372 5.3 Liability p.372 6. Payments and Stablecoins p.373
6.1 Payments p.373 6.2 Stablecoins p.373 7. Tokenisation and Real-World Assets p.373 7.1 Treatment p.373
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