When submitting applications for registration in the financial services Agency (FSA) new Japanese cryptocurrency exchanges will now have to answer more than 400 questions regarding the risks of their activities. According to The Japan Times, to protect investors and users of the FSA expanded the requirements adopted in April last year the law on payment services 4 times by increasing the number of questions on the risks.
In addition, the financial regulator intends to conduct a review in relation to shareholders applying for a license cryptomery to eliminate the risks of their participation in antisocial groups. The company is also required to submit to FSA the minutes of the meetings of the Board of Directors for verification of how these agencies pay topics financial health and security of computer systems kryptomere.
Recall that three weeks ago, according to the results of the inspections the FSA has decided to tighten requirements for new cryptomerias who wish to obtain a license of the financial regulator, continue to carry out site inspection and assess the effectiveness of their business models in the early stages of operational activities of companies, putting priority to the protection of investors. Also recently it became known that the Japanese national police in response to the increasing use of virtual currencies in lawful use plans to introduce in the work of the special software for tracking the history of cryptocurrency transactions and identify kryptomere involved in illegal activities.