...** Financial Services Agency (FSA) of Japan has begun taking steps towards strengthening cryptocurrency regulation, aiming to provide better protection to the local investors. Due to local media outlet ‘Jiji Press’ report, debates on the new crypto laws are already initiated by Japanese authorities. It is planned to develop risky digital asset regulation by summer-2022. The work on the ne...

Last year two of legislation were passed by the Japanese House of Representatives - The Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA), as a result Japan will be enforcing new cryptocurrency- related regulation. Originally new legislations were scheduled to come into effect in April, but due to a COVID-19 pandemic delay the final enforcement date has been offi...

...on instead of prohibiting digital currency. Although even the Central Bank of Russia perceives cryptocurrency as a threat to Russia’s monetary system, many financial institutions and politicians, including Vladimir Putin, supported the adoption of crypto laws. Indeed, the crypto regulation would allow national authorities to have control over the digital assets industry. Many experts raise c...