Japan mulls new rule limiting crypto custody to registered providers: report — TradingView News
Japan’s Financial Services Agency (FSA) is considering a new system that would require digital asset custodians and trading management services to notify and register with authorities prior to offering their services to crypto exchanges.
According to a report from Nikkei, a working group under the Financial System Council, an advisory body to the Japanese Prime Minister, discussed the subject on Nov. 7.
Under current regulations, crypto exchanges are required to maintain robust management of deposits, including storing user assets in cold wallets. However, Nikkei noted that no comparable rules exist for third-party service providers that work with exchanges.
The FSA plans to mandate that custody and trading services providers register…
