The financial services Agency of Japan (FSA) intends to remove legal gaps that allow unregistered investment companies to raise funds in bitcoin, according to CryptoNews.

In particular, the FSA intends to revise the existing in this sphere standards and to bring them into line with the Law on the financial instruments and exchanges. Currently regulations prohibiting the creation of unregistered investment schemes that relate only to Fiat money.

The problem of imperfection of the financial legislation actualized after the Japanese authorities in November arrested the creators of cryptovirology, gathered 7.8 billion yen (about $69 million).

A timeline for amending the legislation is not known.

ForkLog previously reported that the FSA against cryptocurrency derivatives, however, does not exclude the possibility of launching a bitcoin ETF.

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