Japan’s Financial Services Agency (FSA) is set to introduce new Initial Coin Offering (ICO) regulations to protect investors from fraud, local news outlet Jiji Press reported on December 1.
Citing the informed sources, Jiji reported that business operators conducting ICOs will be required to register with Japan’s FSA.
The agency is planning to submit bills revising financial instruments, exchanges and payment services laws to the ordinary parliamentary session that starts in January.
This action has been undertaken “in view of a number of possibly fraudulent ICO cases abroad” as a way “to limit individuals’ investment in ICOs for better protecting them.”
