Japan's Financial Services Agency issued an opinion saying that "non-custodial wallet services" using authentication technology do not belong to the category of crypto asset trading business (management business), a decision that helps to ease some legal uncertainties in the crypto asset (virtual currency) industry.
The decision was made through a "grey area elimination regime" based on the Industrial Competitiveness Enhancement Act, which aims to promote innovation by specifying in advance the applicable regulations for new businesses, and through the Minister in charge of Business (in this case, the Ministry of Economy, Trade and Industry) requesting confirmation from the Minister in charge of Supervision (the Financial Services Agency).
Japan's Financial Services Agency has excluded non-custodial wallet service providers from the crypto-asset trading industry
2024-10-09 02:16:27
Japan FSA publishing use certification technology non-custodial package servicesdesk3cryptocurrencydesktopCrypto News
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