When issuing a token, the Issuer would need to determine (1) whether such token is a Virtual Token or (2) a Financial Instrument (including Electronic Money). If such token is neither of the two, it will be classified as a Virtual Financial Asset (Cyrptocurrency) and covered by a new law called the "Virtual Financial Assets Act".
Service providers such as crypto-exchanges, brokers, wallet providers, asset managers, investment advisers and market makers, are subject to a licence whereby they will be required to satisfy a number of conditions and be subject to ongoing regulation. The new law is covering exchanges converting fiat money to cryptocurrencies and vice-versa, as well as conversions from one cryptocurrency to another.
The law is regulating the:
Technology and Service Providers; and
Content of the Whitepaper.