[Consultation] Legal consultation regarding the legality of virtual currency of Company A, a virtual currency issuer. Law firm Veat

Law firm Veat received a request from A, a well-known overseas virtual currency issuer, and provided legal consultation related to blockchain and virtual currency. A is conducting B project, which ranks in the Top10 based on the 2018 global ICO fundraising amount.

A requested a legal review to determine whether the virtual currency issued by A could be legally traded and distributed in Korea. In relation to this inquiry, Law firm Veat provided a legal opinion regarding whether A’s virtual currency violated domestic laws such as the “Act on Capital Markets and Financial Investment,” the “Electronic Financial Transactions Act,” and the “Act on Regulation of Similar Fundraising Activities,” and whether there was a possibility that A’s virtual currency would be considered securities.

Law firm Veat has formed a virtual currency advisory team comprised of engineers and is conducting corporate consultation on ICO (Initial Coin Offering), Whitepaper legal review, and virtual currency exchange operation. In particular, An Il-woon, a lawyer providing blockchain-related consultation at Veat, majored in Computer Science at Yonsei University and has a development background at Naver, and has been appointed as a member of the IT & Blockchain Special Committee of the Korea Bar Association.

Those who need the opinion of a legal expert on blockchain and virtual currency should inquire through the following path.

Thank you.

Law firm Veat