The head of the online broker Monex Group Inc Oki Matsumoto is convinced that the Japanese cryptocurrency exchanges should be regulated on the same principles as banks, because they keep investors ‘ funds. About it reports Reuters.
“Japanese stocks carry out matching and, like banks, provide services for the storage means, — said Matsumoto. — For such as I — representatives of the financial industry, it seems reasonable that if the rules become more strict”
Currently in Japan, 32 cryptocurrency exchanges. Introduced last year, the rules require trading platforms to separate assets from the assets exchanges. However, this requirement is not yet implemented in practice.
With regard to local online brokers like Monex, these companies strictly follow this principle. In this case, the currency and securities of the users are stored at third-party custodians, such as trust banks.
Earlier it was reported that the victim of the hacking of the Japanese exchange Coincheck until the end of April will become the property of online broker Monex. The transaction amounts to 3.6 billion yen ($33.6 million).