[한인수 칼럼] Is the password illegal? Answer the question | Computer Science

A few days ago, I attended a seminar on Guidelines for Initial Exchange Offers (IEO). After the announcement, I received many questions about the Cryptography Fund. It seems that there has been controversy over the recent cash fund for pbadwords. By listening to and discussing the opinions of industry workers in the field, I was able to think more about this problem.

■ A little coin or etherium can be placed on the bottom

First of all, "Is the pbadword money illegal?" The most asked questions. More specifically, it is illegal if the badets of the fund are cryptographic currency.

Money does not have to be paid to build a fund. Any form of property may be fully paid up if it is recognized and accepted as well in the fund code. Funds may be accepted if they can be clearly badessed at the time of payment, whether in cryptography, cash or shares.

Bitcoin or Etherium can also be put on the fund. It is possible to know the value of the goods at the time of payment in an objective way. However, if the fund needs to be fired, the problem becomes more complicated.

If so, is there a piracy fund created by public offering? Is it illegal? It may or may not be. There are many legitimate cryptography funds, but most of them come in the form of a private offer rather than a public offering. There are many types of fund management, such as venture capital funds, private equity funds and hedge funds.

Around the world, capital markets laws and laws apply when fundraising is open. If you comply with the regulations on public offer, you can build a legitimate fund even if you collect it in encrypted currency. However, each country has detailed regulations and systems for public offering funds.

Cryptographic currency may not be recorded for often obscure reasons, but legal experts in each country see it as a key problem. Cryptographic funds are also excluded because they do not meet the strict standards applicable to money laundering, taxation and real name systems. In the end, the financing rule is important in the public offer market. Species or cryptography are not at the heart of regulation.

■ Cryptography The unilateral interpretation of money funds is favorable for the operator.

Many actors in the block chain and the cryptography industry claim that "the regulation of cryptography is not so bad". However, the regulations on ICO (virtual monetary offers), IEO, cryptographic funds, etc. are regulations on financing methods.

In open capital markets, the rules governing the exchange of goods between people are essentially different from the blockchain or cryptography itself. In order to develop fundraising and sales activities for an indefinite number of people, it is necessary not only to know the principles and details of the regulation of capital markets, but also to know carefully the opinions of experts legal.

The Capital Markets Act, like all laws, is designed not only for the benefit of a particular stakeholder, but also for all people involved in the capital market. She therefore makes sure to interpret it unilaterally as a cryptographic fund. .

There are more than 400 cryptography funds on the US market, where I invested. However, most forms of hedge funds are venture capital funds and private hedge funds formed by private contracts. It is difficult to find a cryptographic fund that recruits as a public offering. The heart of US regulation is not the type of property that the funds are given, but the mode of financing.

Collecting money for a large number of citizens is not an easy task in the US market. There was a time when the United States vaguely regulated the development of the financial sector. However, the easing of financial regulations such as subprime mortgages, credit conversions, leverage maximization triggered the financial crisis in 2008 and taxpayers and individuals were hit by the deregulation. Only 10 years ago.

In the United States, for certain industrial developments, it is unlikely that the rules applied to capital markets will be maintained. Indeed, we understood that deregulation required that the principle of equality be maintained at a high cost.

In the meantime, the cryptography market has been neglected in the way of balancing and verifying the consensus that has been applied to the capital market. The "consensus algorithm" described in the symbolic white paper "benefiting all participants in the ecosystem" did not apply to coin financing.

Cryptographic transmitters have collected money for the majority of the public through a variation of the donation. We have publicly funded many people in the form of coins or the sale of digital products. They are still trying to attract outstanding funds, deceive the public and collect billions of dollars, regardless of the means and methods used.

ICO's easy financing and rapid return on investment has attracted many operators and investors. However, most of them have not followed the fundamentally required rules in the capital market. Many people have committed a crime. However, the price of the fault is now borne by ordinary investors.

■ Investment in parts is fundamentally different from the initial investment in starting a business

I believe that blockchain technology can be widely used in the industry to innovate and develop society. Block Chain, Cryptography and related technologies are new technologies that are not yet complete. The funds that invest in these areas are what is called "venture capital". You can get high profits, but it's high risk. I think this investment in coins is essentially the same as an investment in a start-up or start-up business.

The industrial development of the blockchain is inextricably linked to the development and education of young shoots. However, an open market for an indeterminate number of ordinary people should be fair to all participants. This should not be particularly advantageous or disadvantageous. When the balance is broken, the crisis occurs. It is beneficial for everyone to prevent and improve the balance between information disclosure, containment, surveillance and penalties.

If a special law to lower the threshold of cryptography to facilitate funding is proposed, it should be in a direction that will contribute to the ongoing development of the industry. Technological development and institutional development must work together to improve contradictions. Nevertheless, reforms must not undermine the principle of "market rules", the balance between information disclosure, containment, surveillance and sanctions.

Writer = Han In-su, partner Sky Meadows, partner representing [email protected]

Han Insoo's Profile

Partner representing SkyMedou Partners
Evangelist of the Penta security system
Senior Researcher at NAVER LABS
Moved from Intel
Professional Researcher at Samsung Electronics Advanced Technology Institute
KB Investment Investment Review Board
Study at the Urbana Champaign Campus of the University of Illinois
Graduate of Seoul National University

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