RATE Group | Japan FSA: We Have ‘No Intention’ To ‘Excessively’ Regulate Cryptocurrency
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Japan FSA: We Have ‘No Intention’ To ‘Excessively’ Regulate Cryptocurrency

22 Aug Japan FSA: We Have ‘No Intention’ To ‘Excessively’ Regulate Cryptocurrency

Posted at 22:04h in Cryptocurrency News by

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The head of Japan’s financial regulator the Financial Services Agency (FSA) has confirmed there was “no intention” to introduce “excessive” controls on the country’s cryptocurrency industry.

Japan FSA: ‘We’d Like To See It Grow’

Speaking to Reuters in private comments August 22, Toshihide Endo said that despite strict management of Japan’s cryptocurrency exchanges, a crackdown in the form of fresh restrictions was not on the cards.

“We have no intention to curb (the crypto industry) excessively,” he told the publication. “We would like to see it grow under appropriate regulation.”

Japan was the first country to adopt formal regulatory measures for cryptocurrency entities, a move which has already seen a major test after domestic exchange Coincheck lost over half a billion dollars in a hack last January.

Since then, the FSA has monitored all exchanges operating in Japan extremely closely, issuing immediate improvement orders to some, while others have…

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