Japan's FSA Forms New Division To Oversee DeFi Sector.
2021-07-16 | Big Bob
Japan’s FSA [Financial Services Agency] has formed a division to oversee “decentralized finance,”
and therefore the Ministry of Finance is mulling boosting
the amount of staff
that specializes in cryptocurrencies, Reuters
revealed earlier today on Friday, citing three officials it didn’t identify.
This FSA move
is a sign
of accelerating concern that new
types of private money could disrupt Japan's
economic system, consistent with the report.
Regulation would complement the Bank of Japan's efforts on the central bank's digital yen.
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