The Financial Services Agency (FSA) is Japan’s top financial regulator, has published a draft report for the new regulatory framework for cryptocurrencies and ICOs last Friday. There was 11 study group meetings held by members. At the final draft there was no objection was held by any member as per local media report.

Earliar all major exchanges has been hacked in Japan and this report concerns preventing and dealing with hacking incidences. The FSA manage crypto exchanges private key and customer funds on regular basis like their they manage for stock exchanges.

The document also outlines countermeasures against crypto exchanges going bankrupt. This droft contains the following regulatory framework

Self-Regulation

Deemed Dealers

Trading