Japan’s FSA Pitches Relaxed Regulation for Crypto Brokerages
The Japanese Financial Services Agency (FSA) is considering new regulations for cryptocurrency brokerages for facilitating businesses and safe customer experience.
At present, any entity involved in crypto transactions is subject to the same regulations as full-fledged exchanges, even when they only perform intermediary services. The FSA recognizes that this can obstruct innovation and be an unnecessarily hindrance for safe business providers to enter the market.
Japan’s Lighter Regulations for Crypto Brokerage
The proposed “Crypto-asset and Electronic Payment Means Brokerage” category would apply to firms that connect crypto buyers and sellers without holding funds or managing wallets. This would reduce potential for fraud…
