{"id":62875,"date":"2024-03-22T19:15:34","date_gmt":"2024-03-22T10:15:34","guid":{"rendered":"https:\/\/monolith.law\/cs\/?p=62875"},"modified":"2025-12-18T11:05:36","modified_gmt":"2025-12-18T02:05:36","slug":"ico-regulation","status":"publish","type":"post","link":"https:\/\/monolith.law\/cs\/it\/ico-regulation","title":{"rendered":"Pr\u00e1vn\u00ed regulace ICO a metody pro jejich leg\u00e1ln\u00ed prov\u00e1d\u011bn\u00ed"},"content":{"rendered":"\n<p>ICO je zkratka pro Initial Coin Offering a obecn\u011b se jedn\u00e1 o z\u00edsk\u00e1v\u00e1n\u00ed kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn) od ve\u0159ejnosti podniky, kter\u00e9 jako protihodnotu nov\u011b vyd\u00e1vaj\u00ed elektronick\u00e9 tokeny.<\/p>\n\n\n\n<p>ICO za\u010dalo prudce nar\u016fstat jako prost\u0159edek z\u00edsk\u00e1v\u00e1n\u00ed kapit\u00e1lu v kv\u011btnu 2017 (Reiwa 1, 2019), kdy do\u0161lo k prudk\u00e9mu n\u00e1r\u016fstu cen kryptom\u011bn. V t\u00e9 dob\u011b neexistovaly \u017e\u00e1dn\u00e9 z\u00e1kony, kter\u00e9 by ICO p\u0159\u00edmo regulovaly, a proto bylo mo\u017en\u00e9 v porovn\u00e1n\u00ed s ve\u0159ejnou nab\u00eddkou akci\u00ed (IPO) z\u00edskat velk\u00e9 mno\u017estv\u00ed kapit\u00e1lu jednodu\u0161eji a rychleji, co\u017e vzbudilo pozornost i v Japonsku.<\/p>\n\n\n\n<p>Na druh\u00e9 stran\u011b byly zaznamen\u00e1ny i podvodn\u00e9 p\u0159\u00edpady, co\u017e vedlo k pos\u00edlen\u00ed regulace ICO po cel\u00e9m sv\u011bt\u011b, v\u010detn\u011b \u010c\u00edny, a v Japonsku bylo s novelizac\u00ed japonsk\u00e9ho z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi produkty v prvn\u00edm roce \u00e9ry Reiwa (2019) zavedeno jasn\u00e9 regulov\u00e1n\u00ed ICO.<\/p>\n\n\n\n<p>Jak tedy v sou\u010dasn\u00e9 dob\u011b, kdy je regulace ICO jasn\u011b definov\u00e1na, prov\u00e9st ICO? Tento \u010dl\u00e1nek vysv\u011btluje obecn\u00e9 informace o pr\u00e1vn\u00edch p\u0159edpisech t\u00fdkaj\u00edc\u00edch se ICO a metody, jak prov\u00e9st ICO leg\u00e1ln\u011b.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Co_je_ICO\" title=\"Co je ICO\">Co je ICO<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Typy_tokenu_ICO\" title=\"Typy token\u016f ICO\">Typy token\u016f ICO<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Celkovy_pohled_na_pravni_regulaci_ICO\" title=\"Celkov\u00fd pohled na pr\u00e1vn\u00ed regulaci ICO\">Celkov\u00fd pohled na pr\u00e1vn\u00ed regulaci ICO<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Zakon_o_financnich_nastrojich_a_ICO\" title=\"Z\u00e1kon o finan\u010dn\u00edch n\u00e1stroj\u00edch a ICO\">Z\u00e1kon o finan\u010dn\u00edch n\u00e1stroj\u00edch a ICO<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Pokud_odpovidaji_podilum_v_kolektivnich_investicnich_schematech\" title=\"Pokud odpov\u00eddaj\u00ed pod\u00edl\u016fm v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech\">Pokud odpov\u00eddaj\u00ed pod\u00edl\u016fm v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#ICO_a_Japonsky_zakon_o_platebnim_styku\" title=\"ICO a Japonsk\u00fd z\u00e1kon o platebn\u00edm styku\">ICO a Japonsk\u00fd z\u00e1kon o platebn\u00edm styku<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#V_pripade_ze_se_jedna_o_%E2%80%9Ckryptomenu%E2%80%9D\" title=\"V p\u0159\u00edpad\u011b, \u017ee se jedn\u00e1 o &#8220;kryptom\u011bnu&#8221;\">V p\u0159\u00edpad\u011b, \u017ee se jedn\u00e1 o &#8220;kryptom\u011bnu&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#V_pripade_ze_se_jedna_o_%E2%80%9Cpredplaceny_platebni_prostredek%E2%80%9D\" title=\"V p\u0159\u00edpad\u011b, \u017ee se jedn\u00e1 o &#8220;p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek&#8221;\">V p\u0159\u00edpad\u011b, \u017ee se jedn\u00e1 o &#8220;p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Tresty_za_nelegalni_ICO\" title=\"Tresty za neleg\u00e1ln\u00ed ICO\">Tresty za neleg\u00e1ln\u00ed ICO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Jak_legalne_provest_ICO\" title=\"Jak leg\u00e1ln\u011b prov\u00e9st ICO\">Jak leg\u00e1ln\u011b prov\u00e9st ICO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Zaver_Pri_provadeni_ICO_se_poradte_s_pravnikem\" title=\"Z\u00e1v\u011br: P\u0159i prov\u00e1d\u011bn\u00ed ICO se pora\u010fte s pr\u00e1vn\u00edkem\">Z\u00e1v\u011br: P\u0159i prov\u00e1d\u011bn\u00ed ICO se pora\u010fte s pr\u00e1vn\u00edkem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/cs\/it\/ico-regulation\/#Predstaveni_opatreni_nasi_kancelare\" title=\"P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e\">P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_je_ICO\"><\/span>Co je ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"490\" src=\"https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-2.jpg\" alt=\"\" class=\"wp-image-67107\" style=\"aspect-ratio:1.5;width:840px;height:auto\" srcset=\"https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-2.jpg 735w, https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-2-300x200.jpg 300w, https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-2-250x167.jpg 250w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/><\/figure>\n\n\n\n<p>ICO, jak ji\u017e bylo zm\u00edn\u011bno, je \u010dinnost, p\u0159i kter\u00e9 spole\u010dnosti vyd\u00e1vaj\u00ed elektronick\u00e9 tokeny za \u00fa\u010delem z\u00edsk\u00e1n\u00ed kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn) od ve\u0159ejnosti.<\/p>\n\n\n\n<p>Obvykle se na z\u00edsk\u00e1v\u00e1n\u00ed kapit\u00e1lu pomoc\u00ed &#8220;cenn\u00fdch pap\u00edr\u016f&#8221;, kter\u00e9 jsou v pr\u00e1vn\u00edch p\u0159edpisech vymezeny jako akcie atd., vztahuje regulace podle z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi produkty (d\u00e1le jen &#8220;Z\u00e1kon o finan\u010dn\u00edch produktech&#8221;). Nicm\u00e9n\u011b, ICO tokeny maj\u00ed tu vlastnost, \u017ee jejich obsah si m\u016f\u017ee emitent voln\u011b stanovit, a proto nen\u00ed z pr\u00e1vn\u00edho hlediska jasn\u00e9, zda se jedn\u00e1 o n\u011bkter\u00fd z cenn\u00fdch pap\u00edr\u016f (nebo zda v\u016fbec pat\u0159\u00ed mezi cenn\u00e9 pap\u00edry).<\/p>\n\n\n\n<p>Proto nejprve provedeme faktickou klasifikaci token\u016f ICO podle jejich obsahu a pot\u00e9 vysv\u011btl\u00edme, jak\u00e9 pr\u00e1vn\u00ed p\u0159edpisy se na jednotliv\u00e9 typy vztahuj\u00ed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Typy_tokenu_ICO\"><\/span>Typy token\u016f ICO<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Podle <a href=\"https:\/\/www.fsa.go.jp\/news\/30\/singi\/20181221-1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">zpr\u00e1vy[ja]<\/a> Japonsk\u00e9 finan\u010dn\u00ed agentury lze obsah token\u016f ICO klasifikovat do n\u00e1sleduj\u00edc\u00edch t\u0159\u00ed kategori\u00ed:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Investi\u010dn\u00ed typ<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ty, u kter\u00fdch se p\u0159edpokl\u00e1d\u00e1, \u017ee emitent bude m\u00edt v budoucnu dluh z d\u016fvodu distribuce podnikov\u00fdch zisk\u016f atd.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Jin\u00fd typ pr\u00e1v<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ty, u kter\u00fdch se p\u0159edpokl\u00e1d\u00e1, \u017ee emitent bude m\u00edt v budoucnu dluh z d\u016fvodu poskytov\u00e1n\u00ed zbo\u017e\u00ed, slu\u017eeb atd., kter\u00e9 nejsou zahrnuty v p\u0159edchoz\u00ed kategorii<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Typ bez pr\u00e1v<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ty, u kter\u00fdch se nep\u0159edpokl\u00e1d\u00e1, \u017ee emitent bude m\u00edt jak\u00fdkoliv dluh<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Vych\u00e1zeje z v\u00fd\u0161e uveden\u00e9 klasifikace, poj\u010fme se pod\u00edvat na aplikaci pr\u00e1vn\u00edch p\u0159edpis\u016f.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Celkovy_pohled_na_pravni_regulaci_ICO\"><\/span>Celkov\u00fd pohled na pr\u00e1vn\u00ed regulaci ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Mezi z\u00e1kony, kter\u00e9 by mohly b\u00fdt aplikov\u00e1ny na ICO, se prim\u00e1rn\u011b \u0159ad\u00ed <em>Japanese Financial Instruments and Exchange Act<\/em> a <em>Japanese Payment Services Act<\/em>.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Japanese Financial Instruments and Exchange Act<\/td><td class=\"has-text-align-left\" data-align=\"left\">Z\u00e1kon zaji\u0161\u0165uj\u00edc\u00ed spravedlnost v emisi cenn\u00fdch pap\u00edr\u016f s investi\u010dn\u00edm charakterem a obchodov\u00e1n\u00ed s finan\u010dn\u00edmi produkty a chr\u00e1n\u00edc\u00ed investory<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Japanese Payment Services Act<\/td><td class=\"has-text-align-left\" data-align=\"left\">Z\u00e1kon reaguj\u00edc\u00ed na nov\u00e9 slu\u017eby odli\u0161n\u00e9 od tradi\u010dn\u00edch bankovn\u00edch slu\u017eeb d\u00edky rozvoji informa\u010dn\u00edch a komunika\u010dn\u00edch technologi\u00ed, podporuj\u00edc\u00ed inovace a chr\u00e1n\u00edc\u00ed u\u017eivatele<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Hlavn\u00edm krit\u00e9riem pro rozli\u0161en\u00ed aplikace <em>Japanese Financial Instruments and Exchange Act<\/em> a <em>Japanese Payment Services Act<\/em> je, zda existuje investi\u010dn\u00ed charakter.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/cryptoassets-regulation\" target=\"_blank\" rel=\"noreferrer noopener\">Co jsou to regulace kryptom\u011bn? Vysv\u011btlen\u00ed vztahu mezi Japanese Payment Services Act a Japanese Financial Instruments and Exchange Act[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zakon_o_financnich_nastrojich_a_ICO\"><\/span>Z\u00e1kon o finan\u010dn\u00edch n\u00e1stroj\u00edch a ICO<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Z\u00e1kon o finan\u010dn\u00edch n\u00e1stroj\u00edch (Japanese Financial Instruments and Exchange Act) specifikuje finan\u010dn\u00ed produkty s investi\u010dn\u00ed povahou, kter\u00e9 jsou pova\u017eov\u00e1ny za &#8220;cenn\u00e9 pap\u00edry&#8221;, a to v\u00fd\u010dtem konkr\u00e9tn\u00edch p\u0159\u00edklad\u016f. Akcie a dluhopisy jsou typick\u00fdmi p\u0159\u00edklady. Pokud se na dan\u00fd finan\u010dn\u00ed produkt vztahuje Z\u00e1kon o finan\u010dn\u00edch n\u00e1stroj\u00edch, podl\u00e9h\u00e1 ur\u010dit\u00fdm \u010dinnostem, jako je vyd\u00e1v\u00e1n\u00ed nebo obchodov\u00e1n\u00ed s t\u011bmito cenn\u00fdmi pap\u00edry, r\u016fzn\u00fdm regulac\u00edm, v\u010detn\u011b povinnosti informa\u010dn\u00edho zve\u0159ej\u0148ov\u00e1n\u00ed a pr\u016fmyslov\u00fdch regulac\u00ed, a to za \u00fa\u010delem ochrany investor\u016f.<\/p>\n\n\n\n<p>Z\u00e1rove\u0148 Z\u00e1kon o finan\u010dn\u00edch n\u00e1stroj\u00edch obsahuje ustanoven\u00ed v \u010dl\u00e1nku 2, odstavec 2, bod 5, kter\u00e9 poskytuje komplexn\u00ed definici cenn\u00fdch pap\u00edr\u016f, aby mohl \u0159e\u0161it i nov\u00e9 finan\u010dn\u00ed produkty s investi\u010dn\u00ed povahou, kter\u00e9 nejsou v\u00fdslovn\u011b uvedeny. Cenn\u00e9 pap\u00edry, kter\u00e9 spadaj\u00ed pod tento bod, se obecn\u011b ozna\u010duj\u00ed jako &#8220;pod\u00edly v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech&#8221;.<\/p>\n\n\n\n<p>Jak bylo uvedeno v\u00fd\u0161e, ICO tokeny nejsou v Z\u00e1konu o finan\u010dn\u00edch n\u00e1stroj\u00edch v\u00fdslovn\u011b uvedeny jako cenn\u00e9 pap\u00edry. Proto je t\u0159eba individu\u00e1ln\u011b a konkr\u00e9tn\u011b posoudit, zda ICO spad\u00e1 pod p\u016fsobnost Z\u00e1kona o finan\u010dn\u00edch n\u00e1stroj\u00edch, a to na z\u00e1klad\u011b toho, zda dan\u00e9 ICO tokeny odpov\u00eddaj\u00ed pod\u00edl\u016fm v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pokud_odpovidaji_podilum_v_kolektivnich_investicnich_schematech\"><\/span>Pokud odpov\u00eddaj\u00ed pod\u00edl\u016fm v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Krit\u00e9ria pro pod\u00edly v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech jsou n\u00e1sleduj\u00edc\u00ed:<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<ol>\n<li>Dr\u017eitel\u00e9 pr\u00e1v p\u0159isp\u00edvaj\u00ed nebo vkl\u00e1daj\u00ed pen\u011b\u017en\u00ed prost\u0159edky nebo jin\u00e9 aktiva.<\/li>\n\n\n\n<li>Prost\u0159edky z t\u011bchto p\u0159\u00edsp\u011bvk\u016f jsou pou\u017eity pro provozov\u00e1n\u00ed podnik\u00e1n\u00ed (c\u00edlov\u00e9 podnik\u00e1n\u00ed).<\/li>\n\n\n\n<li>Dr\u017eitel\u00e9 pr\u00e1v maj\u00ed pr\u00e1vo na pod\u00edl na zisku z c\u00edlov\u00e9ho podnik\u00e1n\u00ed nebo na rozd\u011blen\u00ed majetku spojen\u00e9ho s t\u00edmto podnik\u00e1n\u00edm.<\/li>\n<\/ol>\n<\/div><\/div>\n\n\n\n<p>Pokud jsou spln\u011bna v\u00fd\u0161e uveden\u00e1 krit\u00e9ria, pod\u00edly v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech mohou m\u00edt jakoukoliv pr\u00e1vn\u00ed formu (nap\u0159\u00edklad spole\u010denstv\u00ed nebo \u010dlensk\u00e1 pr\u00e1va).<\/p>\n\n\n\n<p>D\u00e1le bylo v roce Reiwa 1 (2019) v r\u00e1mci novelizace z\u00e1kona explicitn\u011b uvedeno, \u017ee &#8220;pen\u011b\u017en\u00ed prost\u0159edky&#8221; zahrnuj\u00ed tak\u00e9 kryptom\u011bny (\u010dl\u00e1nek 2, odstavec 2), co\u017e znamen\u00e1, \u017ee i investice pomoc\u00ed kryptom\u011bn podl\u00e9haj\u00ed Z\u00e1konu o finan\u010dn\u00edch n\u00e1stroj\u00edch.<\/p>\n\n\n\n<p>Podle v\u00fd\u0161e uveden\u00fdch typ\u016f ICO je z\u0159ejm\u00e9, \u017ee investi\u010dn\u00ed ICO tokeny obvykle odpov\u00eddaj\u00ed pod\u00edl\u016fm v kolektivn\u00edch investi\u010dn\u00edch sch\u00e9matech a tud\u00ed\u017e spadaj\u00ed pod p\u016fsobnost Z\u00e1kona o finan\u010dn\u00edch n\u00e1stroj\u00edch.<\/p>\n\n\n\n<p>Na druhou stranu, ICO tokeny typu &#8220;jin\u00e9 pr\u00e1vn\u00ed n\u00e1roky&#8221; nebo &#8220;bez pr\u00e1vn\u00edch n\u00e1rok\u016f&#8221; neumo\u017e\u0148uj\u00ed dr\u017eitel\u016fm po\u017eadovat pod\u00edl na zisku nebo rozd\u011blen\u00ed majetku z c\u00edlov\u00e9ho podnik\u00e1n\u00ed (nep\u0159edstavuj\u00ed spln\u011bn\u00ed krit\u00e9ria \u010d\u00edslo 3), a proto nespadaj\u00ed pod p\u016fsobnost Z\u00e1kona o finan\u010dn\u00edch n\u00e1stroj\u00edch. V takov\u00e9m p\u0159\u00edpad\u011b je t\u0159eba zv\u00e1\u017eit, zda se na tyto ICO tokeny vztahuje Z\u00e1kon o platebn\u00edm styku.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICO_a_Japonsky_zakon_o_platebnim_styku\"><\/span>ICO a Japonsk\u00fd z\u00e1kon o platebn\u00edm styku<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Japonsk\u00fd z\u00e1kon o platebn\u00edm styku reguluje r\u016fzn\u00e9 typy platebn\u00edch a z\u00fa\u010dtovac\u00edch prost\u0159edk\u016f, kter\u00e9 nejsou investi\u010dn\u00ed povahy, jako jsou &#8220;kryptom\u011bny&#8221; nebo &#8220;p\u0159edplacen\u00e9 platebn\u00ed prost\u0159edky&#8221;, a ukl\u00e1d\u00e1 jim r\u016fzn\u00e9 regulace.<\/p>\n\n\n\n<p>Proto je t\u0159eba individu\u00e1ln\u011b a konkr\u00e9tn\u011b posoudit, zda se na ICO tokeny typu &#8220;jin\u00e9 pr\u00e1vn\u00ed&#8221; nebo &#8220;bez pr\u00e1vn\u00edho n\u00e1roku&#8221; vztahuje z\u00e1kon o platebn\u00edm styku, a to na z\u00e1klad\u011b toho, zda se dan\u00fd token kvalifikuje jako &#8220;kryptom\u011bna&#8221; nebo &#8220;p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek&#8221;.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"V_pripade_ze_se_jedna_o_%E2%80%9Ckryptomenu%E2%80%9D\"><\/span>V p\u0159\u00edpad\u011b, \u017ee se jedn\u00e1 o &#8220;kryptom\u011bnu&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Podle pr\u00e1vn\u00ed definice se &#8220;kryptom\u011bna&#8221; (\u010dl\u00e1nek 2, odstavec 5, bod 1: kryptom\u011bna typu 1) vztahuje na n\u00e1sleduj\u00edc\u00ed krit\u00e9ria:<\/p>\n\n\n\n<ol>\n<li>Je mo\u017en\u00e9 ji pou\u017e\u00edt pro platbu za n\u00e1kup zbo\u017e\u00ed nebo poskytov\u00e1n\u00ed slu\u017eeb neosob\u00e1m a je mo\u017en\u00e9 ji vz\u00e1jemn\u011b sm\u011b\u0148ovat za z\u00e1konn\u00e9 platidlo s neosobami.<\/li>\n\n\n\n<li>Je elektronicky zaznamen\u00e1na a p\u0159enosn\u00e1.<\/li>\n\n\n\n<li>Nen\u00ed z\u00e1konn\u00fdm platidlem ani majetkov\u00fdm aktivem denominovan\u00fdm v m\u011bn\u011b.<\/li>\n\n\n\n<li>Nereprezentuje &#8220;pr\u00e1vo na elektronick\u00fd p\u0159enos z\u00e1znam\u016f&#8221; definovan\u00e9 v \u010dl\u00e1nku 2, odstavec 3 Z\u00e1kona o obchodov\u00e1n\u00ed s cenn\u00fdmi pap\u00edry.<\/li>\n<\/ol>\n\n\n\n<p>Krit\u00e9rium 4, &#8220;pr\u00e1vo na elektronick\u00fd p\u0159enos z\u00e1znam\u016f&#8221;, je v podstat\u011b &#8220;pod\u00edl v kolektivn\u00edm investi\u010dn\u00edm sch\u00e9matu, kter\u00fd je mo\u017en\u00e9 elektronicky zaznamenat a p\u0159en\u00e9st&#8221;. Takto je &#8220;kryptom\u011bna&#8221; v pr\u00e1vn\u00edm smyslu jasn\u011b odli\u0161ena od finan\u010dn\u00edch n\u00e1stroj\u016f, kter\u00e9 jsou p\u0159edm\u011btem investic, a je regulov\u00e1na jako prost\u0159edek platby a z\u00fa\u010dtov\u00e1n\u00ed.<\/p>\n\n\n\n<p>Krom\u011b toho, pokud jsou spln\u011bny krit\u00e9ria 2 a\u017e 4 a majetkov\u00e1 hodnota je vz\u00e1jemn\u011b sm\u011bniteln\u00e1 s neosobami, tak\u00e9 se jedn\u00e1 o kryptom\u011bnu (\u010dl\u00e1nek 2, odstavec 5, bod 2: kryptom\u011bna typu 2).<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/comparision-electronicmoney-virtualcurrency\" target=\"_blank\" rel=\"noreferrer noopener\">Co je kryptom\u011bna? Vysv\u011btlen\u00ed pr\u00e1vn\u00ed definice a rozd\u00edl\u016f oproti elektronick\u00fdm pen\u011bz\u016fm[ja]<\/a><\/p>\n\n\n\n<p>Pokud se jedn\u00e1 o kryptom\u011bnu, nelze bez registrace &#8220;obchodn\u00edka s kryptom\u011bnami&#8221; provozovat n\u00e1sleduj\u00edc\u00ed \u010dinnosti jako podnik\u00e1n\u00ed (\u010dl\u00e1nek 63-2):<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<blockquote class=\"wp-block-quote\">\n<p>1. Kupov\u00e1n\u00ed a prod\u00e1v\u00e1n\u00ed kryptom\u011bn nebo jejich v\u00fdm\u011bna za jin\u00e9 kryptom\u011bny. 2. Zprost\u0159edkov\u00e1n\u00ed, p\u0159eb\u00edr\u00e1n\u00ed nebo zastupov\u00e1n\u00ed \u010dinnost\u00ed uveden\u00fdch v p\u0159edchoz\u00edm bod\u011b. 3. Spr\u00e1va pen\u011bz u\u017eivatel\u016f v souvislosti s \u010dinnostmi uveden\u00fdmi v p\u0159edchoz\u00edch dvou bodech. 4. Spr\u00e1va kryptom\u011bn pro jin\u00e9 osoby (s v\u00fdjimkou p\u0159\u00edpad\u016f, kdy existuj\u00ed zvl\u00e1\u0161tn\u00ed pr\u00e1vn\u00ed p\u0159edpisy t\u00fdkaj\u00edc\u00ed se provozov\u00e1n\u00ed t\u00e9to spr\u00e1vy jako podnik\u00e1n\u00ed).<\/p>\n<cite>Z\u00e1kon o platebn\u00edm styku, \u010dl\u00e1nek 2, odstavec 7<\/cite><\/blockquote>\n<\/div><\/div>\n\n\n\n<p>A\u010dkoli obchodn\u00edk s kryptom\u011bnami nen\u00ed regulov\u00e1n vyd\u00e1v\u00e1n\u00edm kryptom\u011bn samotn\u00fdch, pokud ICO tokeny spadaj\u00ed pod kryptom\u011bny, jejich vyd\u00e1v\u00e1n\u00ed a z\u00edsk\u00e1v\u00e1n\u00ed kryptom\u011bn jako protihodnoty by spadalo pod &#8220;v\u00fdm\u011bnu za jin\u00e9 kryptom\u011bny&#8221;, co\u017e vy\u017eaduje registraci obchodn\u00edka s kryptom\u011bnami.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/cryptocurrency-custody\" target=\"_blank\" rel=\"noreferrer noopener\">Co je slu\u017eba \u00faschovy? Vysv\u011btlen\u00ed regulace obchodn\u00edk\u016f s kryptom\u011bnami[ja]<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"V_pripade_ze_se_jedna_o_%E2%80%9Cpredplaceny_platebni_prostredek%E2%80%9D\"><\/span>V p\u0159\u00edpad\u011b, \u017ee se jedn\u00e1 o &#8220;p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>&#8220;P\u0159edplacen\u00fd platebn\u00ed prost\u0159edek&#8221; (\u010dl\u00e1nek 3, odstavec 1) se vztahuje na n\u00e1sleduj\u00edc\u00ed krit\u00e9ria:<\/p>\n\n\n\n<ol>\n<li>Je zaznamen\u00e1na nebo zaps\u00e1na majetkov\u00e1 hodnota v pen\u011bz\u00edch nebo mno\u017estv\u00ed.<\/li>\n\n\n\n<li>Je vyd\u00e1v\u00e1n v podob\u011b cenn\u00e9ho pap\u00edru nebo \u010d\u00edsla atd. v\u00fdm\u011bnou za odpov\u00eddaj\u00edc\u00ed protihodnotu.<\/li>\n\n\n\n<li>Je mo\u017en\u00e9 jej pou\u017e\u00edt pro platbu ur\u010dit\u00e9mu subjektu.<\/li>\n<\/ol>\n\n\n\n<p>Pokud se jedn\u00e1 o p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek, v z\u00e1vislosti na tom, zda je &#8220;dom\u00e1c\u00edho typu&#8221; nebo &#8220;typu t\u0159et\u00ed strany&#8221;, jsou vydavateli ukl\u00e1d\u00e1ny povinnosti jako registrace, ozn\u00e1men\u00ed nebo vklad z\u00e1ru\u010dn\u00edho vkladu.<\/p>\n\n\n\n<p>Povinnost vkladu z\u00e1ru\u010dn\u00edho vkladu nast\u00e1v\u00e1, pokud nevyu\u017eit\u00fd z\u016fstatek k datu stanoven\u00ed (celkov\u00e1 v\u00fd\u0161e emise = celkov\u00e1 v\u00fd\u0161e inkasa) p\u0159esahuje 10 milion\u016f jen\u016f, a je t\u0159eba vlo\u017eit 50 % t\u00e9to \u010d\u00e1stky jako z\u00e1ru\u010dn\u00ed vklad (\u010dl\u00e1nek 14, odstavec 1, prov\u00e1d\u011bc\u00ed na\u0159\u00edzen\u00ed \u010dl\u00e1nek 6). To m\u016f\u017ee b\u00fdt v rozporu s c\u00edlem ICO, kter\u00fdm je z\u00edsk\u00e1v\u00e1n\u00ed kapit\u00e1lu.<\/p>\n\n\n\n<p>V\u0161ak existuj\u00ed v\u00fdjimky z aplikace z\u00e1kona o platebn\u00edm styku pro p\u0159edplacen\u00e9 platebn\u00ed prost\u0159edky, kter\u00e9 spl\u0148uj\u00ed ur\u010dit\u00e9 podm\u00ednky, jako je mo\u017enost pou\u017eit\u00ed do \u0161esti m\u011bs\u00edc\u016f od data vyd\u00e1n\u00ed (\u010dl\u00e1nek 4, bod 2, prov\u00e1d\u011bc\u00ed na\u0159\u00edzen\u00ed \u010dl\u00e1nek 4, odstavec 2).<\/p>\n\n\n\n<p>Podle <a href=\"https:\/\/www.fsa.go.jp\/common\/law\/guide\/kaisya\/16.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Sm\u011brnice pro obchodn\u00edky s kryptom\u011bnami[ja]<\/a> I-1-1, hlavn\u00ed rozd\u00edl mezi kryptom\u011bnou a p\u0159edplacen\u00fdm platebn\u00edm prost\u0159edkem spo\u010d\u00edv\u00e1 v tom, \u017ee kryptom\u011bna m\u016f\u017ee b\u00fdt pou\u017eita neosobami, zat\u00edmco p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek m\u016f\u017ee b\u00fdt pou\u017eit pouze ur\u010dit\u00fdmi osobami.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tresty_za_nelegalni_ICO\"><\/span>Tresty za neleg\u00e1ln\u00ed ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"490\" src=\"https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-3.jpg\" alt=\"\" class=\"wp-image-67108\" style=\"aspect-ratio:1.5;width:840px;height:auto\" srcset=\"https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-3.jpg 735w, https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-3-300x200.jpg 300w, https:\/\/monolith.law\/cs\/wp-content\/uploads\/sites\/34\/2025\/12\/ico-regulation-3-250x167.jpg 250w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/><\/figure>\n\n\n\n<p>Pokud se ICO kvalifikuje jako kolektivn\u00ed investi\u010dn\u00ed sch\u00e9ma a podl\u00e9h\u00e1 tak aplikaci Japonsk\u00e9ho z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi n\u00e1stroji (\u91d1\u5546\u6cd5), ale p\u0159esto se uskute\u010dn\u00ed bez registrace jako finan\u010dn\u00ed n\u00e1strojov\u00e1 obchodn\u00ed \u010dinnost, m\u016f\u017ee b\u00fdt ulo\u017een trest odn\u011bt\u00ed svobody a\u017e na p\u011bt let nebo pokuta do v\u00fd\u0161e 5 milion\u016f jen\u016f, p\u0159\u00edpadn\u011b kombinace obou t\u011bchto sankc\u00ed (\u010dl\u00e1nek 197-2 Japonsk\u00e9ho z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi n\u00e1stroji).<\/p>\n\n\n\n<p>D\u00e1le, pokud dojde k poru\u0161en\u00ed Japonsk\u00e9ho z\u00e1kona o platebn\u00edm styku (\u8cc7\u91d1\u6c7a\u6e08\u6cd5) t\u00edm, \u017ee se bez registrace prov\u00e1d\u00ed \u010dinnost regulovan\u00e1 t\u00edmto z\u00e1konem, nebo pokud se vyd\u00e1vaj\u00ed p\u0159edplacen\u00e9 platebn\u00ed prost\u0159edky bez spln\u011bn\u00ed povinnosti k zaji\u0161t\u011bn\u00ed, m\u016f\u017ee b\u00fdt ulo\u017een trest odn\u011bt\u00ed svobody a\u017e na t\u0159i roky nebo pokuta do v\u00fd\u0161e 3 milion\u016f jen\u016f, p\u0159\u00edpadn\u011b kombinace obou t\u011bchto sankc\u00ed (\u010dl\u00e1nek 107 Japonsk\u00e9ho z\u00e1kona o platebn\u00edm styku).<\/p>\n\n\n\n<p>Nav\u00edc, v z\u00e1vislosti na konkr\u00e9tn\u00edm p\u0159\u00edpadu, m\u016f\u017ee b\u00fdt k t\u011bmto sankc\u00edm p\u0159id\u00e1na i obvin\u011bn\u00ed z podvodu, poru\u0161en\u00ed z\u00e1kona o investic\u00edch, poru\u0161en\u00ed z\u00e1kona o specifick\u00fdch obchodn\u00edch transakc\u00edch a dal\u0161\u00ed, co\u017e m\u016f\u017ee v\u00e9st k velmi t\u011b\u017ek\u00fdm trest\u016fm.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Jak_legalne_provest_ICO\"><\/span>Jak leg\u00e1ln\u011b prov\u00e9st ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>P\u0159i prov\u00e1d\u011bn\u00ed ICO je nutn\u00e9 dodr\u017eovat r\u016fzn\u00e9 pr\u00e1vn\u00ed p\u0159edpisy, ale krom\u011b vyu\u017eit\u00ed slu\u017eeb t\u0159et\u00ed strany, kter\u00e1 je registrovan\u00e1 jako provozovatel kryptom\u011bnov\u00e9 sm\u011bn\u00e1rny, neexistuje v sou\u010dasn\u00e9 dob\u011b \u017e\u00e1dn\u00fd jin\u00fd zp\u016fsob, jak prov\u00e9st ICO pouze ve vlastn\u00ed re\u017eii bez aplikace z\u00e1kona o finan\u010dn\u00edch n\u00e1stroj\u00edch a z\u00e1kona o platebn\u00edm styku.<\/p>\n\n\n\n<ul>\n<li>Vyd\u00e1vat ICO tokeny jako p\u0159edplacen\u00fd platebn\u00ed prost\u0159edek, kter\u00fd spl\u0148uje podm\u00ednky v\u00fdjimky z aplikace z\u00e1kona o platebn\u00edm styku (s dobou platnosti maxim\u00e1ln\u011b \u0161est m\u011bs\u00edc\u016f od data vyd\u00e1n\u00ed)<\/li>\n<\/ul>\n\n\n\n<p>Av\u0161ak, vzhledem k tomu, \u017ee ICO se obvykle prov\u00e1d\u00ed za \u00fa\u010delem z\u00edsk\u00e1n\u00ed financ\u00ed pro nov\u00e9 projekty, je \u0161estim\u011bs\u00ed\u010dn\u00ed doba platnosti pro kupuj\u00edc\u00edho pravd\u011bpodobn\u011b p\u0159\u00edli\u0161 kr\u00e1tk\u00e1 a m\u016f\u017ee znehodnotit tokeny.<\/p>\n\n\n\n<p>Samoz\u0159ejm\u011b je mo\u017en\u00e9 zv\u00e1\u017eit prov\u00e1d\u011bn\u00ed ICO po z\u00edsk\u00e1n\u00ed registrace jako finan\u010dn\u00edho makl\u00e9\u0159e nebo provozovatele kryptom\u011bnov\u00e9 sm\u011bn\u00e1rny a t\u00edm postupovat zcela leg\u00e1ln\u011b, ale ob\u011b tyto mo\u017enosti vy\u017eaduj\u00ed spln\u011bn\u00ed p\u0159\u00edsn\u00fdch podm\u00ednek, kter\u00e9 nejsou pro mal\u00e9 a st\u0159edn\u00ed podniky realistick\u00e9.<\/p>\n\n\n\n<p>D\u00e1le je mo\u017en\u00e9 zv\u00e1\u017eit vyd\u00e1n\u00ed p\u0159edplacen\u00fdch platebn\u00edch prost\u0159edk\u016f, kter\u00e9 nespl\u0148uj\u00ed podm\u00ednky v\u00fdjimky, ale jak ji\u017e bylo zm\u00edn\u011bno, m\u016f\u017ee to zahrnovat povinnost registrace, ozn\u00e1men\u00ed a vkladu z\u00e1ru\u010dn\u00edho vkladu, co\u017e by mohlo b\u00fdt v rozporu s c\u00edlem ICO, kter\u00fdm je z\u00edsk\u00e1n\u00ed financ\u00ed.<\/p>\n\n\n\n<p>Proto lze \u0159\u00edci, \u017ee krom\u011b vyu\u017eit\u00ed slu\u017eeb t\u0159et\u00ed strany, kter\u00e1 je registrovan\u00e1 jako provozovatel kryptom\u011bnov\u00e9 sm\u011bn\u00e1rny, neexistuje \u017e\u00e1dn\u00fd jin\u00fd zp\u016fsob, jak leg\u00e1ln\u011b a efektivn\u011b prov\u00e9st ICO.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zaver_Pri_provadeni_ICO_se_poradte_s_pravnikem\"><\/span>Z\u00e1v\u011br: P\u0159i prov\u00e1d\u011bn\u00ed ICO se pora\u010fte s pr\u00e1vn\u00edkem<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Jak bylo uvedeno v\u00fd\u0161e, ICO bylo tradi\u010dn\u011b vn\u00edm\u00e1no jako jednoduch\u00fd a rychl\u00fd zp\u016fsob z\u00edsk\u00e1n\u00ed financ\u00ed, ale v d\u016fsledku legislativn\u00edch zm\u011bn se stalo p\u0159edm\u011btem \u0161irok\u00e9 regulace. Nav\u00edc nelze diskutovat o ICO pau\u0161\u00e1ln\u011b, proto\u017ee aplikace pr\u00e1vn\u00edch p\u0159edpis\u016f se komplikuje v z\u00e1vislosti na obsahu vyd\u00e1van\u00fdch ICO token\u016f.<\/p>\n\n\n\n<p>Proto, pokud zva\u017eujete realizaci ICO, doporu\u010dujeme konzultaci s odborn\u00fdm pr\u00e1vn\u00edkem, kter\u00fd je obezn\u00e1men s kryptom\u011bnami a finan\u010dn\u00edmi regulacemi.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Predstaveni_opatreni_nasi_kancelare\"><\/span>P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Pr\u00e1vn\u00ed kancel\u00e1\u0159 Monolith se specializuje na IT, zejm\u00e9na na internet a pr\u00e1vo, a nab\u00edz\u00ed vysokou \u00farove\u0148 odbornosti v obou oblastech. Na\u0161e kancel\u00e1\u0159 poskytuje komplexn\u00ed podporu pro podnik\u00e1n\u00ed souvisej\u00edc\u00ed s kryptom\u011bnami a blockchainem. Podrobnosti naleznete v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/blockchain\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/blockchain[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ICO je zkratka pro Initial Coin Offering a obecn\u011b se jedn\u00e1 o z\u00edsk\u00e1v\u00e1n\u00ed kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn) od ve\u0159ejnosti podniky, kter\u00e9 jako protihodnotu nov\u011b vyd\u00e1vaj\u00ed elektronick\u00e9 tokeny. ICO za\u010dalo prudce n [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":67106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[20,19],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/62875"}],"collection":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/comments?post=62875"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/62875\/revisions"}],"predecessor-version":[{"id":67109,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/62875\/revisions\/67109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media\/67106"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media?parent=62875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/categories?post=62875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/tags?post=62875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}