The Japan crypto regulation is a hot topic in the latest cryptocurrency news, especially after the country’s Financial Services Agency (FSA) has decided to introduce new rules regarding cold wallets that would allow users to store cryptocurrencies at crypto exchanges.
As Reuters reported on April 17 citing a source familiar with the entire matter, the country’s financial regulator will reportedly require crypto exchanges to strengthen internal supervision of cold wallets – which are basically devices for storing digital currency which are not connected to the Internet.
The new Japan crypto regulation will also see the FSA addressing all of the difficulties of ensuring the security of digital currencies as well as other risks for the country since it intends to boost the fintech industry and stimulate economic growth.
Even though cold wallets are not connected to the Internet, in that manner they provide better security to global assets. Still, the FSA suggests that there could be risks of internal theft – something that was shared a lot on many best cryptocurrency news sites. As one source noted, a number of exchanges don’t actually have policies set in place where the people responsible for the storage would be regularly rotated out.
The FSA further addressed the Japan crypto regulation issue earlier this month, when it heard arguments for no longer classifying Bitcoin (BTC) as a currency. During one plenary session at the 41st General Assembly of the Financial Council and the 29th Financial Division meeting, Professor Iwashita Goto of Kyoto University argued that Bitcoin had become a currency that is beyond means of transacting mostly due to its borderless qualities which led it to appear throughout the world in its ten-year history.
Aside from this, a month ago the FSA also approved the second cryptocurrency exchange to begin operations under new regulations – and started issuing licenses to new cryptocurrency exchanges that were interested in serving the Japanese market. All of this leads to a brighter future where the Japan crypto regulation is not anymore a challenge.
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“I would like to say I had enough foresight and enough courage to buy as it went all the way down.’’The bitcoin price was trading today at $10,560 which means that Bannon was highly rewarded and some other crypto investors as well that survived the ‘’crypto winter.’’ Steve Bannon had a bullish bet that led Joe Krenen himself who is also a budding Crypto Twitter darling to create a new nickname for the Breitbart executive chairman to ‘’Bitcoin Bannon.’’ Steve Bannon says that his interest in cryptocurrency is now more than speculative. The remarks he made in the past he stated that crypto technology would be a huge and important part of this new true passion project which is the ‘’global populist revolt.’’
“I think cryptocurrencies have a big future, I really do. I think they can be a very important part going forward, particularly in this global populist revolt.’’Previously, Bannon called bitcoin and its usage a ‘’disruptive populism’’ and stated that the cryptocurrency is a revolutionary technology because it takes back the control from the central authorities which are central banks and US Federal Reserve who have strict monetary policies and have been causing President Trump so much consternation in the past year. Bannon even noted that he is considering launching its own ‘’utility token for the populist movement’’ but it is still not appear that the plans are going really anywhere. As noted in the coming altcoin news, Trump stated that he is not a fan of bitcoin and some of the cabinet officials have railed against the cryptocurrency and connected it with criminal activity. The Treasury Secretary Steven Mnuchin even warned that it could even become a national security risk and a huge threat to the global financial system.
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