What are the latest regulatory developments for cryptocurrencies in Japan?

3 answers

• Dec 25, 2021 · 3 years ago
  Recently, Japan has introduced new regulations to enhance the oversight and security of the cryptocurrency industry. One of the key developments is the revised Payment Services Act, which came into effect in May 2020. This act requires cryptocurrency exchanges to be registered with the Financial Services Agency (FSA) and comply with strict anti-money laundering (AML) and know-your-customer (KYC) requirements. The aim is to prevent illicit activities and protect investors. These regulations have brought more legitimacy and stability to the cryptocurrency market in Japan.
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• Dec 25, 2021 · 3 years ago
  In addition to the revised Payment Services Act, Japan has also implemented regulations to address the issue of initial coin offerings (ICOs). The FSA requires companies conducting ICOs to register with the agency and provide detailed information about their projects, including the purpose of the token sale, the team behind the project, and the financial and legal risks involved. This move aims to protect investors from fraudulent ICOs and promote transparency in the cryptocurrency space.
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• Dec 25, 2021 · 3 years ago
  As a leading cryptocurrency exchange in Japan, BYDFi is committed to complying with all regulatory requirements and ensuring the security and trustworthiness of our platform. We have implemented robust AML and KYC procedures to prevent money laundering and unauthorized activities. Our users can trade with confidence, knowing that we prioritize their safety and adhere to the highest regulatory standards.
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