People living in Japan can’t purchase ICO tokens

I’m writing about this airticle.

Japanese Financial Services Agency(FAC) said people living in Japan can’t purchase ICO tokens.

Tavitt(Thailand) Co.,Ltd had meetings with FAC and FAC said to Tavitt that people living in Japan can’t purchase ICO tokens.
Tavittcoin has already done ICO at Waves.

But Japanese who don’t live in Japan can purchase ICO tokens.

What FAC’s email to Tavitt says is

  • Your activity for Japanese people is prohibited because it is not allowed by regulations.
  • Of course you have to write that people in Japan can’t purchase ICO but it’s not enough. You need make your ICO people in Japan can’t purchase.
  • We don’t know about Waves technology but if your ICO token can be purchased by people who live in Japan, that means illegal activity.

Summary of FAC opinions

  • People who live in Japan can’t purchase ICO tokens if tokens are issued by company which can’t be allowed digital asset exchange low in Japan.
  • People who don’t live in Japan can purchase ICO tokens.
  • Companies must not do ICO if they located abroad, haven’t registered Japanese low( it means white list ) and people living in Japan can purchase.
  • Even though FAC doesn’t understand what wave is, they decided illegal to sell tokens to people living in Japan.
  • People living in Japan mustn’t purchase tokens which don’t be allowed by Japanese low.

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