proposal. The drafted regulations specify digital asset custodial wallet provider as a digital asset business which is required to apply for a license, and prescribe provisions on supervision of digital
Advisor” and “Digital Asset Fund Manager” shall be two new types of digital asset business subject to SEC’s supervision. Therefore, any person who wants to conduct any of these new businesses is required to
the execution of electronic transactions which would be deemed as fully legitimate as normal transactions, for example, transactions related to businesses under the SEC supervision, subscription
as fully legitimate as normal transactions, for example, transactions related to businesses under the SEC supervision, subscription, issuance and settlement of securities, and organization of
institution that already operates under the supervision of other regulatory authorities prior to obtaining a derivatives business license. (b) Change of position of the person who has already been approved by