the Sandbox to reduce risks and widespread impacts that may occur during the Sandbox period of no longer than one year as from the approval date. Nevertheless, upon expiration of the Sandbox period, the

plan. This includes limiting business operations to avoid additional risks. If a business operator fails to submit or execute the plan within the specified timeframe, or if the NC falls below 60 percent

with sufficient information to effectively monitor and assess risks in business operations and keep pace with current circumstances. Additionally, they would enhance trust and confidence among

similar to the case of public offering. Additionally, rehabilitation information must also be disclosed, such as the Rehabilitation Plan and a summary of such plan, and significant related risks, etc. The

records of investors’ assets under custody of the business operators must be accurate, complete and updated while the assets must be properly protected from relevant risks. In September 2021, the SEC

consecutive days. In addition, digital asset business operators are required to maintain net capital in accordance with the specified conditions to handle potential risks and liabilities from duty performance

instruments type 1 is allowed to give advice to investors about capital market products without complex features and products with high risks or complexity of all types. Ex., investment units of mutual funds

investors about capital market products without complex features and products with high risks or complexity of all types. Ex., investment units of mutual funds for institutional investors or ultra-high net

instruments type 1 is allowed to give advice to investors about capital market products without complex features and products with high risks or complexity of all types, e.g., investment units of mutual

conduct must be as strict as those imposed on the sale of high-risk products and the associated risks must be clearly disclosed;  (8)  Debt issuers must use the raised money to repay for the earlier