SOUTH KOREA
China
North Korea
Seoul
South Korea
Law and Practice Contributed by: Wooyoung Choi, Suhhee Han, Seonghwan Ju and Matt Younghoon Mok Lee & Ko
Japan
Contents 1. Overview of Blockchain and Crypto-Assets p.571 1.1 Blockchain p.571 1.2 Crypto-Assets p.574 2. Regulation p.576 2.1 Regulators and International Alignment p.576 2.2 Crypto-Asset Regulatory Frameworks p.577 2.3 Regulated Firms and Legal Wrappers p.578 2.4 Token Issuance p.578 2.5 Market Abuse p.579 2.6 Non-Compliance p.579 3. Licensing and Set-Up Requirements p.579
3.1 Licensing Requirements p.579 3.2 Set-Up Requirements p.580 3.3 Change of Control p.580 3.4 Passporting p.581 4. Cross-Border Services p.581 4.1 Marketing p.581 4.2 White Labelling p.581 5. Decentralised Finance p.582 5.1 Ability to Use DeFi p.582 5.2 DeFi Structures p.582 5.3 Liability p.582 6. Payments and Stablecoins p.583
6.1 Payments p.583 6.2 Stablecoins p.583 7. Tokenisation and Real-World Assets p.585 7.1 Treatment p.585
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