Japan to recognise cryptocurrency as ‘financial assets’, NHK says
A man stands near an advertisement of a cryptocurrency exchange in Tokyo, Japan March 30, 2018. Picture taken March 30, 2018. REUTERS/Toru Hanai
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
TOKYO, July 15 : Japan’s parliament has passed a law amendment to designate cryptocurrency assets as “financial assets,” NHK news said on Wednesday. They previously fell under the “Payment Services Act.”
• As financial assets, cryptocurrency assets will be subject to stricter regulations, for instance those governing insider trading, and the law amendment will mean stricter penalties for unregistered trading.
• The number of user accounts on cryptocurrency exchanges in Japan has grown steadily and crypto players are gearing up to reach a wider audience of Japanese investors.
• The change in treatment is expected to come into effect within a year, NHK said.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
