Japan FSA Warns Bybit, 5 Other Exchanges
Japan FSA warned five crypto exchanges, including Bybit and KuCoin, for operating without registration. The Financial Services Agency (FSA) of Japan has issued warnings to five cryptocurrency exchanges located outside of Japan. These exchanges are Bybit Fintech Limited, KuCoin, MEXC Global, Bitget Limited, and Bitcastle LLC. Japan FSA Issues Warning To KuCoin, Bybit, and Others […]
Japan FSA Clarifies Stance on P2P Crypto Transfers
Japan’s primary financial regulator, the Financial Services Agency (FSA), has clarified its stance on peer-to-peer (P2P) cryptocurrency transactions in light of its most recent recommendations to domestic institutions. In a letter dated February 14, the FSA advised banks to “enhance the protection of their customers” by “preventing transfers to crypto-asset exchange service providers in which […]
Japan Moves to Allow Investment Funds to Hold Crypto
The Japanese cabinet has approved the addition of cryptocurrencies to the list of assets that local investment limited partnerships (LP) firms are permitted to purchase or keep. The Ministry of Economy, Trade, and Industry declared on February 16 that VCs involved in cryptocurrency now have greater regulatory certainty. The objective of the modification is to […]
Japan FSA Suggests Halting P2P Fiat to Crypto Transactions
Japan’s primary financial regulator, the Financial Services Agency (FSA), has recommended several safeguards to prevent “illicit transfers” to cryptocurrency exchanges. One of which is controlling the peer-to-peer (P2P) transaction market. The FSA issued a request to Japanese institutions on February 14. The regulator reports that the country’s fraudulent transactions continue to be prevalent, mostly involving […]
Japan’s Average Value of Undeclared Crypto Income Falls 19% in 2022
Japan’s tax authorities estimate that the average value of undisclosed cryptocurrency income fell by 19% in 2022, while the number of tax evasion cases featuring crypto assets rose by 35% in the same year. The Japanese National Tax Agency (NTA) published its annual summary of tax investigations on November 24. The thirteen-page document also includes […]