Japan’s financial regulator is reportedly looking to close a legal loophole that lets unregistered investment firms solicit funds in cryptocurrencies rather than cash. According to a report from Sankei Shimbun on Tuesday, Japan’s Financial Service Agency (FSA) is planning revisions to bring such schemes under the country’s Financial Instruments and Exchange Act, although no timeline for the changes… Read More »
The Financial Services Agency of Japan is considering approving exchange-traded funds which track digital assets, Bloomberg reports. According to sources who confided in Bloomberg, the financial regulator is at the moment gauging sector interest in exchange-traded funds tracking cryptocurrencies. This comes less than a month since the financial watchdog put aside plans for cryptocurrency futures. Consequently, the regulator… Read More »
Citing “informed sources,” Japanese press outlet JIJI Press reports that the Japanese Financial Services Agency is soon to regulate Initial Coin Offerings. The regulation will involve investment limits “for better protecting them.” Similar to how securities tokens are required to register with the American SEC in the United States, companies which intend to issue virtual The post Japan’s… Read More »
The lack of uniformity in stablecoins has led Japan’s Financial Services Agency (FSA) to conclude that stablecoins are not cryptocurrency. Not All Digital Assets Are Created Equal Japan’s Financial Services Agency (FSA) recently announced that it does not believe stablecoins should be classified in the same category as cryptocurrencies. According to Japan’s Payment Services Act and the Fund… Read More »
A top-level executive from the Bank of Japan (BOJ) revealed that the country’s central bank doesn’t plan to issue a digital currency. The BOJ justifies this decision by identifying major obstacles which prevent their further widespread adoption. Spoken Like a True Banker Masayoshi Amamiya, a deputy governor of the Bank of Japan, revealed the bank’s position on… Read More »
San Francisco-based cryptocurrency exchange Coinbase aims to set a new security standard in Japan, and is more confident than ever that it will receive approval from Japan’s Financial Services Agency (FSA) to operate an exchange in the region.
Japanese cryptocurrency firm Tech Bureau Corp’s Zaif exchange was hacked mid-month, where digital coin losses amounted to 7 billion yen ($60 million). Today, the country’s financial watchdog has accused the firm of failing to provide details on how thieves hacked the exchange and also for not explaining its delay in reporting the hack itself.
Japan, often fondly referred to as the ‘Land of the Rising Sun’ has this year increasingly become the ‘Land of rising crypto theft,’ with a new report suggesting that the yen equivalent of $540 million has been stolen during the first six months of the year.
Advertisement Japan’s primary financial regulator has dramatically increased its screening process of applicants registering to open cryptocurrency exchanges, according to a local report. The Financial Services Agency (FSA), Japan’s financial regulator and watchdog, has “increased the number of questions asked when screening applications to about 400 items”, a four-fold increase from previous norms, the Japan Times reported on… Read More »
The Financial Services Agency, the government agency that oversees banking, securities, and exchange services in Japan, plans to set up stricter requirements on cryptocurrencies and its use for speculative purposes.Japan Regulator May Impose Cap on Cryptocurrency Trading LeverageBitcoin and other cryptocurrencies have mainly become tools for speculative investment in recent months. Recently, a DEA agent explained that around 90%… Read More »