Tagged: fsa

Blockchain-based Security Tokens to be Considered Similar to Highly Liquid Securities, like Stocks, by Japan’s Regulators, Fintech Executive Explains

Norbert Gehrke, founder and representative director at Tokyo Fintech, an initiative that supports community-led innovation in Japan’s financial services sector, notes that the country’s economy and business transactions are still “highly paper-based.” Gehrke has worked as managing director at Goldman Sachs’ Technology Division and Barclays… Read More

Japan to Ease Investment Rules to Make it Easier for Banks to Invest in Fintech Firms

Japan is reportedly planning to ease its investment rules and requirements, in order to make it more convenient for banks to invest in Fintech companies. The country is hoping that more relaxed investment guidelines will promote the local lending industry. The lenient policies should help… Read More

Japan’s Financial Services Agency Recognizes the Nation’s Virtual Currency Exchange and Japan STO as Self-Regulatory Bodies

Japan’s financial regulator, the Financial Services Agency (FSA), has certified two organizations as Certified Financial Instruments and Exchange Associations. As confirmed in an announcement made on April 30, 2020, the FSA has officially recognized the Japan STO (security token offering) Association and the Japan Virtual… Read More

CBDC: Bank of Japan and Nation’s Financial Service Agency Held Talks to Determine Whether to Issue Central Bank Digital Currency

Central bank heads and finance ministers recently held discussions regarding crypto-asset regulations at the G-20 summit.  Japanese officials working at the Bank of Japan (BOJ), the nation’s Ministry of Finance (MOF), and Financial Services Agency (FSA) have held talks in order to determine whether the… Read More

Report: Japan Will Further Constrict Leveraged Trading of Cryptocurrencies, Down to 2X of Balances

Japan’s Financial Services Agency (FSA) plans to further reduce allowable limits on leveraged cryptocurrency bets, down from 4X of customer deposits to 2X. Japan’s Cabinet voted to greatly reduce leveraged crypto trades on local platforms last April. At that time, permitted leveraged trades were reduced… Read More

Japan’s Finance Regulator Reminds Crypto Sector About Revised Laws, Plans More Laws

The agency regulating Japan’s financial markets, the Financial Services Agency (FSA), with the cooperation of the Japan Virtual Currency Exchange Association (JVCEA), has called on the country’s crypto sector to make sure it is familiar with revised laws The agency has also announced it will be… Read More

110 Crypto Trading Platforms Seeking Licenses in Japan, Down From 160

More than a hundred proposed “crypto asset” exchange projects are seeking permission to operate in Japan, according to information furnished to Bitcoin.com by an official from Japan’s financial market regulator, the Financial Services Authority (FSA). “The number of crypto asset exchange service providers which have… Read More

Japan Regulator Conducts Flash Inspections at Huobi and Zaif/Fisco Crypto Trading Facilities

The Japanese agency responsible for overseeing the country’s banking, insurance and securities sectors conducted flash on-site inspections last week at local offices of the Huobi cryptocurrency exchange and at the FISCO Virtual Currency Exchange (formerly Zaif), Reuters Japan reports. Regulators from the Financial Services Agency… Read More

Source: Japan Upping Internal Oversight Requirements Regarding “Cold Storage” at Crypto Exchanges

The recent loss of $190 million CAD by the now-defunct Canadian cryptocurrency exchange QuadrigaCX appears to have alerted regulators across the globe to additional complexities affecting the safe storage of cryptocurrencies at relevant businesses. Quadriga has claimed it lost access to the funds following the… Read More

Action in Japan After $60 Million Zaif Crypto Exchange Hack

Zaif Coin

The Japanese Financial Services Agency (FSA) and a crypto industry self-regulatory body have both taken action following last week’s $60 million hack on licensed Japanese cryptocurrency exchange Zaif, Cointelegraph reports. The hack, which has been publicly acknowledged by the company, took place over two hours on Friday,… Read More

As 13 Crypto Exchange Companies Leave, 160 Seek to Set up Shop in Japan, Regulator Says

Japan’s banking, securities and insurance regulator, the Financial Services Agency (FSA), has told Bitcoin.com that around 160 companies have applied to open cryptocurrency exchanges in the country: “Including preliminary consultation/inquiries regarding registration, around 160 operators are expressing their intention of market entry.” The applications appear to… Read More

Report: Toshihide Endo, Head of the Japan Financial Services Agency, Wants Crypto to Grow

Buried within a report from Bloomberg this week was an interesting statement from Japan. Speaking with the relatively new Commissioner of the Japanese Financial Services Agency, Toshihide Endo, the public official shared his thoughts on cryptocurrency and Japan. Japan became a haven of sorts for… Read More

Inspection of Japan Crypto Exchanges Reveals Loose Business Practices

Onsite inspections of 16 licensed cryptocurrency exchanges and 7 with licenses pending in Japan has revealed generally loose business practices and controls, according to a report released last Friday by the Japanese Financial Services Agency (FSA). The inspections were conducted by the FSA in cooperation with… Read More

Japan Regulators Urging Crypto Exchanges to Exclude Anonymous Altcoins

Forbes has reported that sources close to Japan’s Financial Services Agency (JFSA) have confirmed that the agency is encouraging the country’s crypto exchanges to exclude anonymous cryptocurrencies Monero (XMR), Zcash (ZEC), and Dash (DASH) from trading on their exchanges. The suggestion comes as a number… Read More

Japan: Crypto Exchange Everyone’s Bitcoin Hit with Administrative Punishment from FSA

The Financial Services Authority (FSA) in Japan has hit another cryptocurrency exchange with an enforcement action. According to the FSA’s site, “Everyone’s Bitcoin” has received an “administrative punishment” for not abiding by compliance rules for cryptocurrency exchanges. The FSA states that due to reports from… Read More

Cryptocurrency Exchange Binance Receives Warning from Japanese Financial Services Agency

The Financial Services Agency (FSA) in Japan has slapped Binance with a warning regarding cryptocurrency exchanges that operate without being registered with the FSA. Binance is one of the largest cryptocurrency exchanges in the world. Recently, the crypto-exchange thwarted a hack attack. Binance then placed… Read More

Largest Cryptocurrency Exchange in Japan Hacked, Reports Indicate Over $500 Million Stolen from Coincheck [u]

Numerous reports are indicating leading cryptocurrency exchange Coincheck has experienced a serious security breach. Estimates indicate that over $530 million in digital currency may have been stolen or about 58 billion yen of the virtual currency. Coincheck, based in Tokyo, has reported the “illegal outflow… Read More

Japan Plans to Create Fintech Hub

It is fair to say that over the past couple years, Fintech has taken the financial industry by storm. Their new-age approach to classic finance has added value to both companies and consumers. Because of this, many countries have decided to ride this wave of… Read More

P2P Lender Amartha Receives Regulatory Approval from Indonesian Financial Services Authority

Jakarta based Amartha (PT Amartha Micro Fintek) a peer to peer lending platform launched in 2010, is now officially registered with the Directorate of Institutional and Product IKNB (Financial Industry Non Bank) Financial Services Authority ( FSA). Amartha said the approval by the financial regulators… Read More

Singapore & Japan to Cooperate on Fintech Innovation

Less than a week after Japan inked an agreement to partner with the Financial Conduct Authority in the UK, the Financial Services Agency (FSA) in Japan has announced a cooperation framework with the Monetary Authority of Singapore (MAS). Similar to other existing arrangements by MAS,… Read More

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