The local authorities of the Japanese settlement of Nishiawakura decided to introduce an ICO in order to maintain the sustainability of the region’s economy. The village tokens will be called NAC and will be distributed by the Village Token Economy Association. NAC coins will give their owners the right to vote in elections.

To date, there are no laws in Japan that regulate the process of raising funds through ICOs. In turn, the FSA is developing a regulatory framework for this area. According to experts, attracting investments can be an excellent testing ground for testing the regulatory laws of the cryptocurrency market, thereby improving the country’s economic situation. Note that on June 18, Japan officially announced the introduction of a complete ban on the anonymous digital currencies Monero, Dash, Augur and Zcash.