Copy link
Increase text size
Decrease text size
Link copied

Japan’s new crypto regulations move to upper house of National Diet

By Wiiii - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=10972089

Thu, 23 May 2019, 07:06 am UTC

Japan’s House of Representatives on Tuesday submitted new crypto regulation in the upper house of the National Diet, called the House of Councillors, according to Nikkei.

The lower house passed amendments to two existing financial laws, namely, the Funds Settlement Act and the Financial Instruments and Exchange Act. Both intend to enhance the local regulations of the cryptocurrency trading process.

The revisions will include changing the virtual currency’s term to “crypto assets” and adding a margin trading regulation.

The local news agency said that the lower house has moved crypto-related revisions to the current financial law to the upper house at a recent plenary session.

Japan is also strengthening its anti-money laundering countermeasures as it considers enacting new rules for bitcoin exchanges. The Financial Services Agency is cracking down on crypto exchanges with anonymous transactions or weak identity verification ahead of the inspection by the Financial Action Task Force this fall, CCN reported citing Nikkei Asian Review.

Just recently, the Securities Commission of The Bahamas has also proposed a new framework to regulate the issuance and sale of digital tokens to lure blockchain businesses and crypto investments to the island nation. The draft, entitled “Digital Assets and Registered Exchanges Bill 2019” aims to regulate token offerings that are not deemed securities.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,179.12 (-1.08%)
  • Ethereum (ETH) $143.24 (-0.95%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $208.92 (-0.41%)
  • Litecoin (LTC) $44.06 (-0.10%)
  • Bitcoin (BTC) $7,179.12 (-1.08%)
Dec 14, 2019 (Saturday)
05:44
Darknet marketplace Hydra launching an ICO on Dec.16 to fund its global expansion
Dec 13, 2019 (Friday)
12:50
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:49
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:25
Crypto Technicals: BCH/USD edges above 5-DMA, near-term upside likely on break above 20-DMA (211.74)
11:24
Terra launches stablecoin-powered payments service in Mongolia
10:37
Crypto Technicals: Ripple (XRP) edges higher from session lows at 0.2154, 'Hammer' at lows raises scope for minor gains
10:22
Korean cybersecurity firm partners with R3 for digital asset management and MPC technology
08:55
SEC charges Shopin’ founder with orchestrating ICO fraud; Accused deactivates social media, Telegram account
08:55
Crypto exchange Kraken looking for operations director to helm ‘special-purpose depository institution’
07:49
Twitter looks to blockchain to decentralize social media
07:03
Crypto Technicals: LTC/USD flashes signs of recovery, 'Dragonfly Doji' and 'Bullish Divergence' could support minor upside
06:22
ING bank developing custody project for digital assets: Report
06:18
Basel Committee on Banking Supervision mulls designing global prudential standard for crypto-assets
05:28
Franklin Templeton leads blockchain-based social impact platform’s funding round
04:58
Crypto Technicals: BTC/USD breaks above 50H MA, 'Bullish Divergence' could support further gains
04:44
TokenSoft submits transfer agent filing to the SEC; Decision to arrive in 30 days
04:33
Crypto Technicals: ETH/USD recovery lacks traction, upside capped at 5-DMA
04:33
Glencore joins Responsible Sourcing Blockchain Network for tracing cobalt
03:24
Grant Thornton releases second report on Cryptopia liquidation; Pulls back nearly $5M from various sources
03:23
Chainalysis launches compliance solution for Bitfinex amidst class-action lawsuit
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft