a crowdfunding system; (2) crowdfunding must be conducted through a funding portal approved by SEC and the funding portal must have a system for assessing creditworthiness and risks of debenture

a filing and a prospectus and lessen a duty for digital token portals.Given high risks and uncertainties of a project during pre-ICO and private sale, and limited information disclosure to

asset market development plan, as well as solving problems and preventing risks. This regulatory proposal would also contribute to the stability, transparency, fairness and digital asset market integrity

The securities companies and derivatives brokers are presently required to maintain net capital (NC) in a specified amount in order to sufficiently cover risks from conducting business. However

significantly alter the returns and risks of the fund, for example, the calculation and announcement of asset value, unit value, subscription and redemption prices. The consultation paper can be

accordance with international standards. This includes (i) calculation of ratio limit, (ii) categorization of fund types to better reflect investment risks based on net exposure instead of investment value

, digital asset investors must understand that investing in digital assets take high risks and fluctuations. Investors may suffer losses or find limited choices in swapping digital assets.“In addition, the

efficient technology systems, a system to review and assess customers’ suitability, which is very important as digital assets contain high risks. Once applicants for licensing are well-prepared and have

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