In Korea, in order to carry out multi-level marketing activities, a company must be registered as a 'multi-level marketer' as specified in the Act on Door-to-Door Sales (Act) and fulfil the necessary conditions contained in the Act. In this regard, if a company sells a cryptocurrency issued in an initial coin offering (ICO) to several buyers/investors at multiple levels, it could be regarded as a multi-level marketing organisation as defined in the Act.
October 17, 2018