New Japanese crypto exchange regulations as FSA wraps up visits


Japan’s Financial Services Agency (FSA) recently paid a visit to several cryptocurrency exchanges in the country. The agency reportedly found a number of issues, including lack of compliance and internal audits, poor corporate governance and poor business models. As a result, it has determined that several changes need to be made to the regulatory framework of new companies looking to receive a license to launch an exchange.

New exchanges, as part of the FSA’s due diligence processes for licensing requests, will all have to submit to an on‐site inspection at an early stage of the process. The agency is also going to begin to put the platform’s business models under a microscope throughout the duration of operations.

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