FISCO, the Japanese investment support services provider, intends to set up a new cryptocurrency exchange that will be operated by a new company, FISCO Coin. The new exchange will support bitcoin as well as other virtual currencies.

The new company intends to develop financial derivative instruments and provide a range of services, B2B as well as B2C. Among the examples bond issue and crowdfunding are cited and both will be released with the help of digital currencies.

According to the official press-release, the decision of FISCO was influenced by the recent Japan government’s decision to legalise virtual currencies. Japan’s Cabinet has recognised bitcoin and its analogues as a legal form of payment alongside fiat money. The new regulations place bitcoin exchanges under the authority of the Japanese Financial Services Agency (FSA) with the intention to make them more secure. Exchanges and other financial entities dealing with digital currencies will have to register within the FSA, which means tighter and more scrupulous control and no anonymity. Besides, Japan is still the only G7 country that taxes bitcoins: citizens who buy BTCs have to pay 8% consumption tax. Reddit users believe that the reason to strengthen control over the cryptocurrency ultimately lies in the Mt. Gox collapse in 2014, which left many customers empty handed.

Japan has one of the most developed bitcoin communities. Zaif, another Japan’s cryptocurrency exchange, has recently claimed it has set a record of daily volume of bitcoin trading – on 8 March $18,000 were traded on the platform.

FISCO provides financial information for individual and corporate investors. The professional group covers the following markets within its area of expertise: equity markets, foreign exchange, bond and commodity markets. On its official website FISCO states that its goal to be the best company in the financial services sector.

Anna Lavinskaya