Japan’s FSA Eyes Tightening Crypto Lending Rules
The Financial Services Agency (FSA) in Japan is planning to tighten the rules around cryptocurrency lending.Notably, this move will bring the crypto service under the Financial Instruments and Exchange Act. Japan is considering this action in a bid to protect investors and their investments.
Wu Blockchain announced on X that Japan’s Financial Services Agency has discussed plans to tighten regulations around crypto lending.
Before now, some entities have consistently bypassed registration under the guise of borrowing. By taking this new step, the agency is attempting to close existing loopholes in the growing digital asset ecosystem.
Also, this is an avenue for the FSA to mandate stronger risk and custody controls….
