Japan’s FSA are exploring regulation to tighten up control within the ICO market
- FSA are reviewing framework to regulate the ICO market.
- Japan continues in its efforts to further regulate the cryptocurrency market.
The Financial Services Agency in Japan are reviewing frameworks to push for regulation relating to ICOs in Japan, as the growing attractiveness for them gathers pace, being reported by local Japanese press, Sankei Shimbun.
This follows on from a statement released by the Japanese FSA back in October 2017, where the made it clear there a many underlying risks that float around within token activities. It seems to be a global theme now, more bodies becoming cautious on ICOs, as being the case in the US, SEC stressing of intentions to regulate this market.
Japan are on a mass tighten up of the digital currency market and it all stems from the large hack that occurred earlier this year. Coincheck were subject to a hack of $400 million, that was stolen, one of the biggest reported thefts of digital funds.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
