The Japanese Financial Services Authority (FSA) plans to enhance internal audits in financial institutions, including the exchange of encryption. According to another statementThe agency aims to address industry gaps and comply with international standards in organizational compliance.
FSA stated that a round table discussion will be used to explore the improvement of internal audits in the financial sector in Japan.
The main participants will include representatives of the Crossed Currency Exchange in Japan and other financial industry groups, including the Japanese Financial Services Association, the Japanese Payment Services Association, and the Japanese Banker Association.
This initiative follows a recent FSA monitoring report that highlights the weak audit and audit practices between these companies. FSA plans to review the “current situation and issues” instructions to include reinforced audit measures that reflect international organizational trends.
Campaign on unregistered exchanges
FSA efforts are followed recently Warning messages To five encryption exchanges accused of working without a suitable registration. These include BitCastle LLC, Peter limited, Pipe Fintech Limited, CocoineAnd Mexc worldwide.
In Japan, stock exchanges that serve the local population are required to register in FSA or the financial office. The financial organizer stated that any unregistered exchanges operate outside its supervision, which raises concerns about the separation of customer and platform security.
FSA has warned that unregistered exchange users may lack assets or compensation under Japanese law. This organizational gap may leave customers at risk during conflicts or unexpected accidents.
Cautious approach
These developments indicate that Japan continues to adopt a cautious approach to encryption and focuses on consumer protection.
This week, Japanese Prime Minister Shigro Ishiba revealed that the Asian state will not do so Bitcoin incorporate in its reserves Despite her increasing global acceptance. According to him, digital assets like Bitcoin It contradicts the goals of the country’s financial reserve strategy due to its high fluctuations.
Japan has It is said Keep a strict position on the boxes on the stock exchange (ETFS), even because these products achieve unprecedented success in markets like the United States.
Despite this cautious situation, the country has placed itself as a country friendly country. The last efforts include a teacher Economic stimulation package It includes reforms of the country’s encryption tax laws.
Pamphlet Japan is less than unregistered encryption exchange First appear on Cryptoslate.
