Japan Targets Speculative Cryptocurrency Investments in Its Updated Regulations

[elenora]

Japan's financial regulator is reportedly taking a gander at renewing its regulatory system for the cryptocurrency segment to mitigate the speculations.

In April 2017, the Financial Services Agency (FSA) – Japan's budgetary controller – upheld new enactment that updated the Payment Services Act to perceive cryptocurrencies as legitimate tender.

The administrative move was spearheading at the time wherein a noteworthy economy ordered household crypto trade administrators to enlist and procure a permit from the expert to work a crypto trade in Japan.

The regulator commanded the system to proactively get ready for a flood in cryptocurrency appropriation, particularly in their utilization in installments and settlements.

A senior official from the regulatory authority told the Japan Times,

“the FSA moved to prevent a situation in which there is no law governing(cryptocurrencies) when they come into wide use.”

However, the report on Wednesday revealed that the regulator did not anticipate adopters swinging to cryptocurrencies like bitcoin for an investment instead of payment instruments and, therefore, is currently taking a gander at tweaking those directions to check speculative investments.

In order to ‘close the gaps between regulations and actual practice for cryptocurrencies’, the FSA set up a panel of experts in April as it further hinted the regulatory shakeup of the current system.

As reported by CCN in July, the FSA... Click Here to read full report.

[Light Cyborgs]

A very well thought out decision taken by Japanese government. Kudos to them. They have kept the original necessity of cryptos which is to provide a better transaction experience intact and regulated the space which faces most cases of manipulation and scams, that means the investment part of cryptos. Hopefully, they will come up with more necessary steps that helps the crypto users there to have a better experience while using cryptos.

[plmxs]

To be honest, although I personally don't like Japan, I like cryptocurrencies. I think it is a good thing that Japan can first propose to regulate cryptocurrencies and incorporate them into Japanese investment regulations. As far as I know, Japanese people use bitcoin to pay wages and daily shopping.

[Prof. Hanity]

This is definitely a good step by Japan which should be set as a example for other countries to see how they should actually handle the regulations regarding cryptocurrency. Too much rigidness in the framework would have made it problematic for both the government and users, but they opted for making the trading and exchanging of cryptos easier rather than making it look like an investment.

[SladderyNewS]

Japan is now in an advanced position considering other countries because of how they are trying to normalize cryptocurrency among their whole population and they are trying to do it their own way by trying to help their citizen adopt it as a trascational instrument rather than treating it as an investment. This is definitely a good news for all the crypto lovers.

[Ivraes]

For mitigation of the speculations, the financial regulator of Japan is reportedly taking a gander . This was done with a view to renew its regulatory system for the cryptocurrency segment. The financial services agency of Japan took this preventive measures so that there might be regulations when cryptocurrency is widely used.

[cryptoshops9944]

well that is very inspiring news, thus kinds of news will help the users to be more inspired so we all can expect that with the passes of time this field will achieve more and more success and development

[blackrain321]

The crypto market is spread all over the world. The crypto in Japan is in good condition. If Japan FSA supports, then I think the crypto will do better here. The future of the crypt is bright and promising here. I think the investment here will be profitable.

[Hydroid]

If cryptocurrency in Japan is able to achieve its target level, it would be a good sign for the cryptor. I think Japan FSA will validate the crypto and it will be very secure. Increase the interest of the people and increase the investment.

[WhiteShum]

If cryptocurrency in Japan is able to achieve its target level, it would be a good sign for the cryptor. I think Japan FSA will validate the crypto and it will be very secure. Increase the interest of the people and increase the investment.

I like this decision of the Japanese government. This experience will not prevent other countries to ensure a high level of security and reliability of transactions and protect against various scams and fraud when using the crypt

[tenebriscaelum]

Another good news that I have read today, the first being that one of the Banks in Switzerland gained more investments and profits by integrating cryptocurrncy into their bank which should start a chain in making more banks is Switzerland to follow integrating cryptocurrency into their system, and now the Japanese government are upping its game in regulating cryptocurrency investments which only means more protection to the cryptocurrency users in their country. I am hopeful that many countries would follow suit to that these two countries are doing and I will only benefits us its users and it will generate more investors to the market.

[Tipstar]

The new Japanese crypto regulations has made it harder for startup projects harder to setup and operate in Japan.
Newer coins, exchanges and crypto realted projects are finding alternatives to Japan and Japan is actually losing a lot of money by its moves.

[swftlu]

I think the Japanese government has made the right decision. The Japanese government has proposed an example of monitoring cryptocurrencies and incorporating regulations that are worth learning from other countries.

[CrownKit]

If FSA validates crypto, it would be a good sign for cryptos. Fertile market platform for Japan cryptocurrency. I think the crypto will do something good here. Its future is bright and profitable.

[Goodwin54]

I think it is a good thing. If they observe the investment and create influence for their good utilization then it will be more valuable for their economy. If they have control over the investment then the investment will be more effective. i think they should do it to their undeveloped regions too.

[covfefe_]

We need a meeting point between freedom of crypto and restriction of law.
Human by nature are animals that require constant regulations to function in regular way otherwise it becomes a chaos and the fittest only survive.
Crypto is being overtaken by the fittest scammers and we require laws that would equate it for all.

[reggram]

It is a good thing to regulate cryptocurrencies and incorporate them into investment regulations. The implementation of this regulation further supports the development of cryptocurrencies. Although I don't like Japan, the Japanese practice in this matter is worth learning from other countries.

[HDContent751]

Japan have this decision diplomatically. But japan will be benefitted and crypto also increases it’s circle too. But this news is true or not depends on this.

[StrongImagine301]

If japan maintain this properly that should be open great opportunity for japan to be benefitted and make crypto is a part od it’s finacnce.