Japan considers crypto wallet regulation

Posted 16 November, 2018

Japan's Financial Services Agency keeps studying the crypto issue. This week, the regulator held the ninth meeting to discuss the work of the tast crypto team.

According to the unveiled information, the meeting covered rules for crypto wallets and providers of this services among other topics on the agenda. As it was stated, the companies in Japan that deal with cryptos must obtain a crypto exchange license. At the same time, the wallet providers are now not subject to the effective regulation.

Since the current rules fail to cover wallet suppliers as they are actually not involved in crypto trading, but just offer storage services, the proposed guideline suggests that service providers must become subject to regulation, rather than developers and hardware producers. The regulator noted that this business should be controlled as well.

The rules for wallet services will reportedly be developed in line with to the international AML and anti-terrorism funding policies.

As the news reports read, the authority considers the regulatory measures like internal control system, separate control of the clients' and company's assets, regular auditing and creation of reserve fund for refunding if users lose their money.

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19 November, 2018 11:08

← US-China trade conflict escalates, yuan down

The Chinese currency has stated the week with weakening affected by further escalation of the US-China trade issue over the past weekend. US Dollar index was at 96.25. The US dollar-to-yuan soared on Monday to 6.9430. The greenback got stronger against the Japanese yen reaching some 112.83. In Japan, the economic report showed that the country's exports rose by 8.2% y-o-y in October, though the forecast was set at 9%. The British currency improved now to 1.2868. The market keeps watching for the sterling movement following the recent selloffs on the Brexit uncertainties.

US-China trade conflict escalates, yuan down

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16 November, 2018 14:42

France considers ICO taxation →

Following the recent approval of the ICO regulation in France, the authorities have now started considering taxation of the crypto segment. The government spokesperson is yet to announce the taxes for ICO, through the generation of funds via digital token issuing must be subject to 20% VAT. It is expected that the crypto regulation will be released in early 2019. Meanwhile, local community plans that the crypto projects will eventually get tax benefits. French crypto market players do not refuse from accepting taxes and agree to pay them, but only if the rates are not robbery, as noted an expert.

France considers ICO taxation
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