Japan’s FSA Set to Regulate ICOs Next Month

Japan’s FSA Set to Regulate ICOs Next Month
ôîòî ïîêàçàíî ñ : bitcoinist.com

2018-12-3 18:00

Japan’s Financial Services Agency (FSA) is reportedly set to introduce a regulatory framework governing initial coin offerings (ICOs).

FSA to Limit Participation Capabilities

Citing sources familiar to the matter, local Japanese media Jiji Press reports that the country’s Financial Services Agency is set to introduce regulations on initial coin offerings.

The financial watchdog will submit revision bills for the Financial Instruments and Exchange Law, as well as to the Payment Services Law beginning in January 2019.

Purportedly, one of the new provisions will limit the amounts of money individuals will be able to invest in initial coin offerings in order to increase protection.

Additionally, the financial watchdog will also supposedly require ICO projects, which launch their own cryptocurrencies, to register with the agency in advance.

Japan’s Position in the Field

Investor protection is amongst the widely discussed points of Japan’s regulatory agenda. Earlier in October, Bitcoinist reported that the country intends to limit the leverage for cryptocurrency margin trading in order to reduce the risk of massive losses associated with the high volatility of digital currencies.

On the path to creating a robust cryptocurrency trading environment, the country’s FSA recently said that it doesn’t consider stablecoins to be in the same category as cryptocurrencies.

According to the regulator, stablecoins fail to meet the criteria for cryptocurrency as the lack of a uniform set of characteristics makes it impossible to categorize them. This is important because it would put these tokens out of JVCEA’s regulatory purview.

Japan Virtual Currency Exchange Association (JVCEA) is an entity comprised of the executive officers of the cryptocurrency exchanges in the country. Among its tasks is to guarantee that cryptocurrency exchanges follow and abide by the existing regulatory requirements. At the same time, JVCEA is allowed to punish non-conforming operators.

What do you think of Japan’s move to regulate initial coin offerings? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock, Bitcoinist archives

The post Japan’s FSA Set to Regulate ICOs Next Month appeared first on Bitcoinist.com.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Setcoin (SET) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 SET

financial set fsa japan services icos offerings

Èñòî÷íèê: bitcoinist.com

financial set → Ðåçóëüòàòîâ: 126


Ôîòî:

French Regulators Set to Approve Bitcoin-Linked Firms

France’s financial watchdog, the Financial Markets Authority (AMF) has announced plans to implement a new set of rules that will govern bitcoin and crypto-based businesses in the region. The regulation is expected to go live later this month, and it takes care of essential pain points like consumer protection, tax remittance and capital requirements, reportsRead MoreRead More.

2019-7-18 09:00


Japan to introduce new ICO regulations

Japan’s Financial Services Agency (FSA) is set to introduce new Initial Coin Offering (ICO) regulations to protect investors from fraud, local news outlet Jiji Press reported on December 1. Citing the informed sources, Jiji reported that business operators conducting ICOs will be required to register with Japan’s FSA. The agency is planning to submit bills […]

2018-12-3 09:06


Ôîòî:

Spain: Financial Watchdog Intensifies Efforts to Make Cryptocurrency Holders Pay Tax

It may soon no longer be business as usual for bitcoin (BTC) and altcoins investors in Spain as the nation’s tax authority, the Agencia Estatal de Administracion Tributaria (AEAT), has reportedly identified at least 15,000 distributed ledger technology (DLT) based virtual currency holders and is now set to make them pay taxes, reported Finance Magnates on November 20, 2018.

2018-11-22 01:00


Ôîòî:

SWIFT Kicks Out Iran – Country Responds with State-issued Cryptocurrency

Following the disconnection by SWIFT, Iran is set to launch its own state-issued cryptocurrency to circumvent U. S. sanctions. SWIFT Removes Iran Amidst Renewed U. S. Sanctions During the weekend, Belgian interbank service provider, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced it was cutting off Iran from its financial messaging system.

2018-11-14 00:28


Czech Republic Expobank CZ Opens Cryptocurrency Trading And Investing Services

Expobank, a commercial bank from the Czech Republic is set to introduce cryptocurrency transactions that will combine with conventional financial features in their online services. The bank says its customers will get the opportunity to trade their cryptocurrencies, invest through crowdfunding and even buy precious metals using their accounts. Expobank CZ further touts itself as […]

2018-10-29 11:21


Ôîòî:

Japan Approves Self-Regulation of Cryptocurrency Exchanges

On Wednesday, Oct. 19, Japan’s Financial Services Agency granted the cryptocurrency industry the authority to self-regulate. The approval means that the Japan Virtual Currency Exchange Association, a coalition of several registered digital currency exchanges, can now set rules for operational requirements, consumer protection, prevention of money laundering and employee ethics.

2018-10-25 06:55


Global Money Laundering Watchdog to Establish Crypto-Focused Guidelines by June

The global entity responsible for setting international money laundering guidelines is finally ready to lay the foundation for its first crypto-specific set of rules by June 2018. FATF Readies Global Crypto Regulation on Money Laundering Paris, France-based money laundering watchdog, Financial Action Task Force (FATF), has seen increasing pressure from global governments to unify regulation.

2018-10-20 00:15


Ôîòî:

How Monero Are Improving Human Rights With XMR

 Listen Here – https://soundcloud. com/cryptodaily/how-monero-are-improving-human-rights-with-xmr Monero is considered to be the privacy coin, the currency of choice for absolute privacy. Now, privacy doesn’t necessarily mean security and we should remember that 2018 has seen a tonne of ‘Monero mining’ hacks, calling into question some of the projects integrity.

2018-10-12 17:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Irish Banks Hail EU’s ‘Radical’ Anti-Money Laundering Push

Banks in Ireland have welcomed an upcoming reform of the European Union’s anti-money laundering regulations that will affect the crypto space. The Irish banking industry organization voiced support for the changes aimed at disrupting illicit transactions at the union level while calling them “radical.