Japanese Financial Watchdog to Launch New ICO Regulations
Cryptovest
Published Dec 05, 2018 04:06AM ET
Updated Dec 05, 2018 05:41AM ET
Japanese Financial Watchdog to Launch New ICO Regulations
Japan’s Financial Services Agency (FSA) is preparing to launch new regulations for initial coin offerings (ICOs) in a bid to increase investor protection, as per a report by local news outlet Jiji Press.
Citing unidentified insiders, Jiji said that cases of fraudulent ICOs “abroad” have compelled the FSA to develop a new regulatory framework for this method of crowdfunding. The regulations will aim to “limit individuals’ investment in ICOs for better protecting them.”
Under the new rules, all business operators looking to conduct an ICO would be required to register with the FSA. The agency first plans to submit bills for revising laws pertaining to financial instruments, exchanges, and payment services during the regular parliamentary session due to commence next month.
ICOs, a crowdfunding mechanism where...
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