Interest in cryptocurrency falls in Japan

Posted 04 September, 2019

Japan is one of the first developed countries to quickly introduce legislation governing the work and development of the digital asset industry. However, investors have somewhat lost interest in cryptocurrency by now.

On September 3, the Japan Financial Services Agency (FSA) published data on the work of the Advisory Bureau for financial services market participants. Statistics show a decrease in requests for virtual currencies, which confirms the trend that has developed over the past few quarters. 

The FSA Consulting Bureau processed 494 requests for cryptocurrency assets in total for the quarter ending June 30. The figures showed a decline q-o-q. In particular, the number of requests in the previous quarter was 574.

The FSA's latest tough action was an administrative lawsuit filed in June against the cryptocurrency exchange Fisco. These actions followed an inspection conducted in February 2019, during which shortcomings were identified that led to a change in the company's top management. However, a re-examination conducted in April revealed problems regarding compliance with the standards required by the regulator. In this regard, the FSA issued a regulation on improving business practices.

On Sunday the FSA and JVCEA published a new guidance document that reports on more stringent monitoring of cryptocurrency exchanges, focusing on the infrastructure providing cybersecurity.

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04 September, 2019 11:36

← US dollar slightly down in mid week

The US dollar showed some fluctuations at the Asian session in the middle of the week. The US Dollar index generally decreases. As the market data showed, the euro gained grounds against the US dollar with the rate reaching some $1.0985, while the previous session was closed near $1.0974.

US dollar slightly down in mid week

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03 September, 2019 16:35

The Netherlands ban unregistered crypto companies →

The Netherlands will begin to regulate companies providing cryptocurrency-related services. The corresponding announcement was made by the country's central bank.

The Netherlands ban unregistered crypto companies
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