Current Korean laws have not determined whether NFTs are virtual assets under the Act on Reporting and Use of Certain Financial Transaction Information (the Act) and leave it to the nature of the NFT for such determination. If an NFT...
Category: Blockchain
NFTs have potential to work within real estate transactions due to their irreplaceable nature.In the US use of NFTs in real estate transactions is increasing. For example, NFTs have been used for rental property auctions and real estate mortgage transactions.Under...
D’LIGHT advised a client on the negotiation of a Simple Agreement for Future Tokens (SAFT), an agreement by which a virtual asset issuer receives payment and later issuing and delivering tokens.The client needed guidance on the method of token sales,...
Financial authorities are currently determined to fire repair virtual asset business reports on most virtual asset exchanges, and are actually looking into virtual assets handled by virtual asset exchanges. As a result, exchanges preparing to report virtual asset businesses are...
In the past, professional investors in the virtual asset sector have generated profits by participating in private sales of typical utility tokens, but recently by participating in private sales or angel investments in DeFi protocol-based tokens. D’LIGHT Law Group provided...
Platform operators who were using virtual assets as a means of payment are currently in an unstable situation where they can be subject to both the Electronic Financial Transaction Act and the Specific Financial Information Act. Our corporation judged the...
The grace period for virtual assets under the Specific Financial Information Act is expected to come soon to September 24, 2021. Some operators are preparing to report virtual asset businesses, but most are not able to obtain ISMS certification until...
Vaccines for COVID-19 are currently receiving vaccination certificates through the mobile application COOV. COOV is a DID-based application created in collaboration with the Korea Centers for Disease Control and Prevention and a blockchain technology development company. D’LIGHT Law Grouphelps the...
Through a white paper of cryptocurrency and an interview with the issuer, we conducted a review whether it falls under the securities under the 「Financial Investment Business Act」 after examining the purpose, structure and nature of the platform of blockchain...