The Japanese Government Will Toughen The Regulation Of ICO
The Financial Services Agency of Japan (FSA) plans to introduce new regulations on initial coin offerings (ICO) in order to protect cryptocurrency investors.
According to informed sources, all the organizers of ICOs will have to be registered with the FSA.
In addition, the FSA plans to introduce new bills, which will revise financial instruments, exchanges and payment services laws. It is expected that this will happen in January, when the parliamentary session starts.
It is alleged that the regulator is taking this step in the light of several potentially fraudulent projects conducted outside Japan. In particular, the Agency intends to limit their investments in ICO in order to better protect private investors.
Recall, in October it was reported that in order to reduce risks and speculation in the market the FSA planned to set a limit on the amount of leverage in cryptocurrency trading.