Japanese regulators are taking steps to introduce digital currency regulations. Yesterday, members of Japan’s Financial Services Agency held a meeting to discuss legislation, money laundering and security implications of virtual currency technologies.
The meeting also included digital currency exchange operators in Japan, who provided some insight into the current status of the bitcoin economy in Japan and around the world. According to a Nikkei Asian article, “Some 20 billion yen ($161 million) in bitcoins, each valued at about $400, are reportedly traded daily.”
In light of the arrest of Mark Karpeles in Japan, former operator of the Mt.Gox scam exchange, Japanese authorities have taken a keen interest in beefing up investor asset protection laws. One of the main topics at the meeting was regulatory oversight of digital currency exchanges and potential levies on bitcoin trading.
“The FSA plans to introduce a regulatory mechanism as early as next year in response to the oversight vacuum exposed by the arrest of MtGox chief Mark Karpeles”
Image Source: 1
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Something just shifted again on the Bitcoin network, and it’s one of those things miners…
Something interesting is quietly happening in the market again, and it’s coming from a name…
At a glance, XRP’s price hasn’t done much lately. It’s been moving sideways, not giving…
At the latest “SEC Speaks in 2026” event, the U.S. Securities and Exchange Commission made…
Morgan Stanley is edging further into the crypto space after filing a second amended S-1…
Ethereum co-founder Vitalik Buterin is once again stirring conversation across the crypto space, this time…