Japan Has No Plans to Curb Crypto, Seeks Further Growth

August 24, 2018

 

Japan’s positive stance on cryptocurrencies just got reaffirmed. “We have no intention to curb (the crypto industry) excessively,” said Toshihide Endo, the commissioner of Financial Services Agency (FSA), Japan’s top financial regulator. In a recent interview with Reuters, Endo said that the FSA was trying to promote technological innovation while ensuring that consumers were protected. He also said that they would like to see the cryptocurrency industry grow under appropriate regulations.The FSA cracked down on cryptocurrency platforms after the $530 million crypto theft from Coincheck, a bitcoin wallet and exchange headquartered in Tokyo. In July, the authority revealed that it was considering regulating crypto exchanges under the Financial Instruments and Exchange Act (FIEA), instead of their current legal foundation, the Payment Services Act, to bolster consumer protection. If the change is implemented cryptocurrencies, which at present are positioned as electronic money, will be considered as financial products thereafter.

Read more...

Share on Facebook
Share on Twitter
Please reload

Featured Posts

#Binance Adds #BTT/PAX, BTT/TUSD and BTT/USDC Trading Pairs

February 14, 2019

1/3
Please reload

Recent Posts
Please reload

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

Please reload

Archive

© 2018 by TheCryptoCoinCenter.com  - email  us: TheCryptoCoinCenter@gmail.com

Terms of Use and Privacy Policy Disclaimer: Most of the articles, ratings, and reviews are posted because we are compensated in some way.

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square