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Japan is reportedly set to review its cryptocurrency regulations, potentially reducing taxes on digital assets. The Financial Services Agency (FSA) plans to assess whether current crypto regulations under the payments act provide sufficient investor protection. The review may lead to reclassifying crypto as financial instruments under Japan’s investment law, which could enhance safeguards and bring … Read more
The crypto exchange blamed regulatory pressures and “compliance requests” from local financial regulators as the reason it terminated its services. Go to Source
As financial authorities around the world continue to target sanctioned Russian entities, regulators in Japan along with the country’s crypto association are attempting to find and close gaps that may be used to circumvent sanctions. The two bodies, however, have said they are not discussing the plan to block all Russians. Calls to Block Russian … Read more
The British Virgin Islands-based Bybit Fintech Limited has announced the cryptocurrency derivatives exchange is introducing an updated know-your-customer (KYC) policy on July 12. Bybit notes that it already had certain KYC requirements implemented, but the new system reform is meant to “improve security compliance for all traders.” Bybit Says Companies and Individual Clients Mandated to … Read more
The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation. Japan’s FSA Warns Bybit Fintech Limited Japan’s top regulator … Read more
Japan’s top financial regulator, the Financial Services Agency (FSA), has explained to news.Bitcoin.com its recently adopted rules regarding the creation and sale of cryptocurrency exchange-traded funds (ETFs). Meanwhile, Japan now has a crypto index, launched by major Japanese companies. Also read: US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks Crypto-Focused Funds With … Read more
Japan’s Consumer Affairs Agency (CAA) has released its 2019 report and noted a significant spike in inquiries concerning cryptocurrency related issues last year. The report details a 70% increase in 2018 in regard to consumer queries largely stemming from exchange issues. Moreover, over the last two quarters of 2019, the Japanese yen paired with various … Read more
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. The association will also enforce compliance. … Read more
Japan’s financial regulator has reportedly introduced new screening requirements for crypto exchanges seeking approval to operate in the country. The agency now extends its focus beyond the registrants’ financial health and system safety measures. Among additional criteria are the assessment of the companies’ decision-making process and their links to antisocial groups. Also read: 160 Crypto Exchanges Seek … Read more
Japanese mega e-commerce and internet company Rakuten Inc. is entering the crypto space. Instead of submitting a new application to the country’s financial regulator, Rakuten is acquiring an existing crypto exchange to fast-track into the Japanese crypto market. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Rakuten to Operate Crypto Exchange Rakuten Inc. announced … Read more
