FSA News

The Japanese subsidiary is one of 134 companies caught up in FTX’s bankruptcy proceedings but has been drafting a plan to return client funds.

Under the orders, FTX Japan will be required to suspend OTC derivatives transactions and related margins as well as new deposits from Nov. 10 to Dec. 9 unless the FSA steps in.

Self-reg entity JVCEA has reportedly received stern warnings to get its act together, as Japan’s Financial Services Agency pushes for the organization to speed up its AML regulation rollout.

Crypto.com will have further requirements before its full license is granted in the “near-term” and FTX said the move would allow it to work “directly with Japanese regulators.”

The financial watchdog in the U.K. has declared that all non-registered ATMs must be immediately closed down or be subject to undisclosed additional action.

Seung-beom Koh said that fintech experts across the globe “find it difficult to see virtual currencies as a financial asset.”

The new regulation will be designed to provide better protection to Japanese investors.

Japan’s newly appointed Financial Services Agency Commissioner, Junichi Nakajima, believes Bitcoin is a quick way to transfer cash, but people use BTC for speculation and investment.

Crypto exchange giant Binance is the latest platform to receive a warning from regulators in Japan for operating in the country without a license.

The warning comes in response to Bybit’s marketing campaign that reportedly targeted Japanese investors.

Japan has been a member of the FATF since 1990.

2021 may be the year of natural selection for the Japanese crypto industry.

Ryozo Himino, the International Financial Deputy Counselor at Japan’s financial watchdog, will take over as the agency’s new commissioner.

Tosei real estate and Tokyo Financial Holdings issued an asset-backed digital financial product, Coinage registered with Japanese authorities as an exchange and more headlined news from Japan this past week.

The Japanese government will appoint Ryozo Himino as the next commissioner of Japan's Financial Services Agency.