STO
Japan Security Token Regulation: FSA, FIEA, and the STO Market
Japan FSA tokenization framework — FIEA security tokens (ERTRI), Type I FIBO license, Japan STO Association, stablecoin amendment (June 2023), 30+ licensed crypto exchanges under FIEA.
Regulation A+ (Mini-IPO)
Regulation A+ enables public token offerings to non-accredited investors up to $75M (Tier 2), offering a middle path between Reg D private placements and full SEC registration.
Regulation D (SEC)
Regulation D provides SEC exemptions from Securities Act registration, enabling private placement of security tokens under Rules 504, 506(b), and 506(c).
Regulation S
Regulation S provides a safe harbour from US Securities Act registration for securities offerings made outside the United States to non-US persons.
Security Token
A security token is a blockchain-based digital instrument representing ownership rights in an asset that qualifies as a security under applicable law.
Security Token Offering (STO)
A security token offering (STO) is a regulated fundraise issuing blockchain-based security tokens, distinct from ICOs by full securities law compliance and investor due diligence requirements.