FSA wants to bring tougher updates to crypto assets

Uğur Bayram

Aug 23, 2021

The Japan Financial Services Agency (FSA) plans to impose tougher regulations on crypto assets to offer users a more reliable platform.

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The Japan Financial Services Agency (FSA) plans to impose tougher regulations on crypto assets to offer users a more reliable platform.
One of the purposes of the FSA is to prevent money laundering and price volatility.
Despite FSA Commissioner Junichi Nakajima being more positive towards cryptocurrencies, the country has stopped using cryptocurrencies. Nakajima said:
“We need to think carefully about whether it is necessary to make it easier for the general public to invest in crypto assets.”
As it is known, he will be able to learn more about crypto thanks to external subject experts recently established by the FSA.
It is thought that regulations for DeFI will be made in the coming months.
Nakajima understands that strict regulation hurts most exchanges and pushes them into a financial struggle.
These regulations are bad for crypto assets, unlike stocks, because crypto assets are not their underlying assets and therefore there are huge fluctuations.

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