The Financial Supervisory Commission (FSC) issued a press release at the end of 2017, reminded the public must pay attention to the relevant risks deriving from accepting, trading, or holding Bitcoin. FSC also expressed its attitude toward ICO (Initial Coin Offering). Whether or not the ICO tokens would be considered a kind of securities and thus the ICO shall be regulated by the Securities and Exchange Act will be determined on a case-by-case basis. Please see the details on the slides.