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FSA Denies Plans to Make Changes to Regulations Governing Cryptocurrency Exchanges

Published 2 years ago by Mark Alcala

FSA Denies Plans to Make Changes to Regulations Governing Cryptocurrency Exchanges

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Japan’s Financial Services Agency (FSA) finally refuted recent reports stating that it plans to make some changes to existing cryptocurrency regulations. The FSA is the government agency responsible for regulating the insurance, securities, exchange, and banking sectors in the country to ensure the stability of the financial system. FSA is responding to recent reports stating that the agency might be planning to change the existing legal basis of Japans cryptocurrency regulations.

According to Sankei, the FSA is considering a shift from the current revised fund settlement law in place to the Financial Instruments and Exchange Act (FIEA). Recent reports have surfaced, stating that the FSA is now refuting the matter and insisting that there are no plans on changing cryptocurrency regulations at the moment. The FSA’s denial was published by the Impress Corporation, a Japanese publication.

When contacted for confirmation, the FSA responded by saying “there is no such fact.” Japan’s Financial Services Agency regularly holds meetings attended by various experts to thresh out issues currently facing Japan’s cryptocurrency market. While such various topics can be discussed in such meetings, the FSA clarified that changes to crypto regulations are not on the agenda. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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