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Japan’s FSA Forms New Division To Oversee DeFi Sector.
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Japan’s FSA Forms New Division To Oversee DeFi Sector.

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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