[Consultation] Review of Licenses and Permits for Game Launchpad

Law firm Veat provided legal review as part of a project for game platform A, regarding the provision of game launchpad services, which involves the review of licensing requirements under the Act on the Reporting and Use of Financial Information, in the process of providing the service.

A was requesting legal review regarding whether the game launchpad service, provided within its operating game platform (hereinafter “the subject platform”), which allows ordinary investors to pay for basic calls and purchase new game tokens, required licensing under the Act on the Reporting and Use of Financial Information (the Specific Financial Information Act).

In response, Law firm Veat provided detailed guidance to A regarding the subject platform’s game launchpad service and whether it might be considered a virtual asset dealer under the Specific Financial Information Act, and whether it had an obligation to report as a virtual asset dealer under the Act on the Reporting and Use of Financial Information.

Based on its experience advising numerous blockchain technology-based companies, Law firm Veat is providing legal advice, including reviewing blockchain business models and risk minimization strategies, and obligations and procedures related to reporting virtual asset dealers under the Act on the Reporting and Use of Financial Information.

If you need legal advice regarding reviewing business models related to blockchain and virtual assets, reviewing licenses, reporting obligations for virtual asset dealers, or other legal advice related to the Act on the Reporting and Use of Financial Information, please feel free to contact Law firm Veat.

Thank you.
Law firm Veat