D’LIGHT’s Blockchain Practice Group has reviewed the viability and legality of the clients’ business models from the project planning phase and provides legal advice regarding various contracts and business operations. The clients using this service had been primarily in the rising startup sector that incorporated Blockchain technology to both issue virtual assets and create new business models. However, existing business sectors, such as banks and manufacturers, have started incorporating Blockchain technology, which has led to the rise of new legal issues due to the conflict between the convenience and privacy of the technology and the legal regime requiring disclosure and oversight. Legal experts with extensive experience and knowledge of the Blockchain technology and the sector will be essential to recognize and mitigate future legal risks, and our Blockchain Practice Group remains ever committed to providing cutting edge legal services satisfies our clients’ needs.
In addition to domestic laws and regulations concerning Blockchain and virtual assets, companies doing business in Korea, foreign and domestic, must be cognizant of the movement among countries to enact laws on virtual assets founded on the FATF’s Interpretive Note and Guideline published in June 2019. In Korea, the recent revision of the Act on Reporting and Use of Specific Financial Transaction Information spurred change in regulations for businesses involving virtual assets by tightening the regulations on the issuance and monetization of virtual assets. With this transition to regulation, we provide quick and reliable solutions to help our clients engage in virtual asset-related businesses in compliance with the revised laws, regulations, and regime
We also provide legal services to clients that conduct Blockchain business in countries that have a vigorous Blockchain and virtual asset industry, such as Singapore, Malta, Hong Kong, Estonia, Switzerland, Netherlands, and the United States. In these countries, our clients may issue tokens and raise funds through ICOs or STOs, develop and distribute virtual asset exchanges or public chains, create efficiencies for businesses using private chains, provide custody service or solutions for AML, and personally invest in virtual assets. In addition, we have signed a memorandum of understanding with clients that provide comprehensive AML solutions to comply with anti-money laundering regulations.
The Blockchain Practice Group has experience working in government Blockchain projects and has served as a legal advisor for the Busan Blockchain Special Zone.
Since 2017, our Blockchain Practice Group has provided in-depth solutions to legal issues related to virtual assets and Blockchain for our clients. In addition to providing counsel, we represent clients in civil and criminal litigation for disputes over virtual assets, based on our comprehensive understanding of virtual asset exchanges.
Key Business Contents
주요 업무 내용
• Reviewing business models and white papers
• Consultation on various contracts (investment contracts, private sales, public sales, marketing, and more) during the selling of virtual assets (ICO/STO/IEO)
• Advising on BM legality and legal restrictions on Blockchain technology-based companies
• Supporting companies using Blockchain technology regarding sandbox applications
• Consultation on legally operating within the Virtual Assets Exchange
• Consultation on liquidation and investor protection in virtual asset exchanges
• Conducting civil and criminal lawsuits regarding virtual assets
• Consultations regarding the Act on the Reporting and Use of Interpreting Notes and Guideline of the FATF and Specific Financial Transaction Information
• Guiding through procedures regarding the establishment, operation and tax/accounting of overseas corporations and the selling of virtual assets
• Consultation on various foreign exchange reports regarding exchange and remittance of investments in virtual assets
• Consultation on terms and conditions and personal information processing policies in compliance with various statutes, including GDPR