[Consultation] Review of SAFT contracts related to virtual asset investment.

Law firm Veat reviewed the SAFT agreements for A, a company that develops and supplies mobile games, upon request.

A, a company that develops and supplies mobile games, is preparing for a global service launch and, during the process of issuing new tokens related to the corresponding mobile game, requested a review of the SAFT agreement in Korean and English versions.

An SAFT (SIMPLE AGREEMENT FOR FUTURE TOKENS) agreement is a type of investment agreement that specifies the transaction of tokens. Through the SAFT agreement, you can obtain tokens.

Law firm Veat, at A’s request, reflected the lock-up period and vesting period clauses for the tokens, and added the clause stating that the seller can cancel the token sales at its discretion. Furthermore, we added statements and guarantees that specify the obligations of the buyer to prevent money laundering, prevent corruption, and prevent terrorism financing, and added a clause allowing the contract to be terminated if there is a violation of the obligations.

Law firm Veat provides assistance so that you can comply with laws such as the “Act on Reporting and Use of Financial Transaction Information” (Specific Financial Information Act) and the “Act on Financial Investment and the Capital Market” (Capital Market Act) regarding virtual asset investments, SAFT agreements, and coin sales.

If you have any questions regarding virtual asset investments, SAFT agreements, or coin sales, please contact Law firm Veat.

Thank you.
Law firm Veat.