ChainCatcher news, according to CoinPost, on June 14, the Financial Services Agency of Japan issued a warning to the overseas cryptocurrency exchange "LBank Exchange," stating that it is providing cryptocurrency trading without registration.The Financial Services Agency stated that LBank Exchange "has an unknown location and unknown representatives, and is conducting cryptocurrency asset trading targeting Japanese residents via the internet." Last March, the Financial Services Agency of Japan had warned four companies, including Bybit Fintech Limited, MEXC Global, Bitget Limited, and Bitforex Limited, for providing cryptocurrency trading without registration.

ChainCatcher news, Japan's Finance Minister Shunichi Suzuki stated regarding the improper outflow of cryptocurrency assets from DMM Bitcoin: "We will thoroughly prevent such incidents from happening again." According to the head of the Financial Services Agency of Japan, the agency has issued a report request order to DMM Bitcoin under the Fund Settlement Act, demanding an investigation into the reasons and a compensation policy for customers.Previous news, approximately $300 million worth of Bitcoin was stolen from DMM Bitcoin's wallet, and the platform has implemented restrictions on some services.

ChainCatcher news, the Financial Services Agency (FSA) of Japan encourages financial institutions in the country to strengthen monitoring of "illegal" transfers to cryptocurrency exchange providers. An analysis by the National Police Agency concluded that the damage caused by fraud related to illegal remittances is primarily due to transfers made using cryptocurrencies.The FSA encourages financial institutions to further enhance user protection based on risk and suggests that "if the sender's name differs from the account name, financial institutions should stop transferring to cryptocurrency exchange service providers."

ChainCatcher news, Coinpost reports that the Financial Services Agency of Japan has announced a revision to the definition in Article 2 of the Financial Instruments and Exchange Act, aiming to grant members of limited liability type DAOs the same treatment as ordinary LLC members regarding rights tokens. This measure is expected to ease the regulation on the rights of tokenized limited liability company employees and simplify DAO operations.

ChainCatcher news, according to Cointelegraph, Japan's main financial regulatory agency, the Financial Services Agency (FSA), has decided to take control of cryptocurrency regulation and proposed amendments to the crypto asset tax law. The FSA submitted this request on August 31, suggesting the exemption of domestic companies from the year-end "unrealized gains" tax on cryptocurrencies.In the legal provisions of some countries, taxes are only required when cryptocurrency assets are sold for fiat currency, but in Japan, they are taxed annually. The amendment proposed by the FSA has the potential to take effect, and this reform will improve the domestic Web3 environment in Japan and promote the development of startups utilizing blockchain technology.

ChainCatcher News: The Financial Services Agency of Japan has announced its financial policy guidelines for the 2023 fiscal year (from July 2023 to June 2024), which mention the promotion of digital development and initiatives for advancing Web3, including the implementation of measures for digital currencies and crypto assets. This includes the promotion of a registration review system to support the smooth issuance and circulation of stablecoins, as well as encouraging the establishment of self-regulatory organizations.

ChainCatcher news, according to Nikkei, the Japanese government announced that the Commissioner of the Financial Services Agency, Junichi Nakajima, has resigned, and Teruhisa Kurita, the Director-General of the Comprehensive Policy Bureau, has been appointed to succeed him on July 4. Teruhisa Kurita, 59 years old, is currently the head of the Strategic Development and Management Bureau under the Financial Services Agency, which specializes in handling cryptocurrency and fintech issues. (Source link)

ChainCatcher News: The Financial Services Agency of Japan will lift the circulation ban on overseas-issued stablecoins in Japan in 2023. This measure will be implemented after the relevant guidelines are amended, in conjunction with the latest "Funds Settlement Act" that will take effect in 2023.For domestically issued stablecoins, issuers are required to prepare reserve assets as collateral, and the issuers are limited to banks, registered transfer agents, trust companies, and others. Additionally, regarding the overseas-issued stablecoins that are scheduled to be unbanned, domestic practitioners handling these tokens are obligated to safeguard the assets, and it is also proposed to set the remittance limit at 1 million yen per transaction. The Financial Services Agency stated that it will begin soliciting opinions after December 26. (Coinpost)