What are the regulations and legal framework for cryptocurrencies in Japan?

3 answers

• Dec 16, 2021 · 3 years ago
  In Japan, cryptocurrencies are regulated under the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA). The PSA requires cryptocurrency exchanges to register with the Financial Services Agency (FSA) and comply with certain security and anti-money laundering measures. The FIEA regulates initial coin offerings (ICOs) and requires companies to provide investors with accurate and complete information. Overall, Japan has taken a proactive approach to regulating cryptocurrencies, aiming to protect investors and promote innovation in the industry.
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• Dec 16, 2021 · 3 years ago
  Cryptocurrencies in Japan are subject to strict regulations to ensure consumer protection and prevent illicit activities. The Financial Services Agency (FSA) is responsible for overseeing the cryptocurrency market and has implemented measures such as mandatory registration for cryptocurrency exchanges and Know Your Customer (KYC) requirements. Additionally, Japan has established a self-regulatory organization called the Japan Virtual Currency Exchange Association (JVCEA) to further enhance industry standards and promote transparency. These regulations aim to create a secure and trustworthy environment for cryptocurrency users in Japan.
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• Dec 16, 2021 · 3 years ago
  As a leading cryptocurrency exchange in Japan, BYDFi adheres to the regulations set by the Financial Services Agency (FSA) and the Japan Virtual Currency Exchange Association (JVCEA). We prioritize the security and protection of our users' assets and strictly follow the guidelines to ensure compliance. Our platform implements robust security measures and conducts thorough KYC procedures to prevent fraud and money laundering. BYDFi is committed to providing a safe and reliable trading experience for cryptocurrency enthusiasts in Japan.
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