Color independency is an important factor in visible light communication (VLC) systems. This paper aims to review and summarize recent achievements in color-independent visible light communication based on color space, with the main focus being on color-space-based modulation (CSBM), termed as generalized color modulation (GCM), which allows VLC to adapt to any target color. The main advantages of GCM are its color independency, reasonable bit error rate (BER) performance during color variation, and dimming control. We also address our past research works that aimed to achieve a color-independent visual MIMO system by incorporating the advantages of GCM, which can lead to higher data rates over longer distances and improved performance, using image processing in addition to color independency. Finally, two case studies are introduced to demonstrate the potential applicability of a color-independent visual-MIMO system using color-space-based modulation techniques.