Japanese regulators are taking steps to introduce digital currency regulations. Yesterday, members of Japan’s Financial Services Agency held a meeting to discuss legislation, money laundering and security implications of virtual currency technologies.
The meeting also included digital currency exchange operators in Japan, who provided some insight into the current status of the bitcoin economy in Japan and around the world. According to a Nikkei Asian article, “Some 20 billion yen ($161 million) in bitcoins, each valued at about $400, are reportedly traded daily.”
In light of the arrest of Mark Karpeles in Japan, former operator of the Mt.Gox scam exchange, Japanese authorities have taken a keen interest in beefing up investor asset protection laws. One of the main topics at the meeting was regulatory oversight of digital currency exchanges and potential levies on bitcoin trading.
“The FSA plans to introduce a regulatory mechanism as early as next year in response to the oversight vacuum exposed by the arrest of MtGox chief Mark Karpeles”
Image Source: 1
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
The Zero Knowledge Proof (ZKP) presale auction has officially entered Stage 2, and for anyone…
Ethereum has announced that ERC-8004, a new token standard designed for AI agents, is heading…
Tokenized U.S. Treasuries from Ondo Finance are now live on the Sei Network, marking a…
Tether is steadily transforming itself from a digital dollar issuer into one of the biggest…
After months of steady expansion through 2025, stablecoin supply across the crypto market is now…
Bitwise Asset Management has officially expanded deeper into decentralized finance by launching non-custodial onchain vault…