The financial services Agency of Japan (FSA) plans to protect investors ‘ cryptocurrency to introduce new regulations on the scope of primary offerings of coins (ICO). Cointelegraph reported, citing local news outlet Jiji Press.
The publication quoted “informed” sources, according to which all the organizers of ICO will need to be registered in FSA.
In addition, the Agency plans to introduce new bills which will be revised rules of work of stock exchanges, payment services and other providers of financial instruments. It is expected that this will happen in January, when the start of the parliamentary session.
It is alleged that the step controller is in the light of several potentially fraudulent projects held outside of Japan. In particular, the Agency in order to better protect private investors intends to limit their investments in ICO.
We will remind, in October it was reported that the FSA with the aim of reducing risk and speculation in the market is planning to establish a limit on the amount of leverage in cryptocurrency trading. The measure also recommended by the Association of exchanges of virtual currencies Japan (JVCEA), earlier received the status of a self-regulatory organization.
Earlier this week the Commission on securities and exchange Commission (SEC) has fined a famous American boxer Floyd Mayweather and music producer DJ Khaled for the ICO promotion company Centra Tech in social networks. In particular, the regulator found that celebrity concealed the fact that the organizers paid them for is tokens.
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