This week’s headlines from Japan included the country’s Financial Services Agency revealing feedback from the public on recent regulation, the Cabinet Office Ordinance announcing regulatory changes, Zaif exchange removing three crypto assets, BitBank’s COO predicting crypto exchange mergers, and Nomura Research Institute issuing Japan’s first blockchain-based bond.
Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.
Japanese FSA receives comments on new regulations
The Japanese Financial Services Agency, or FSA, unveiled 172 comments from citizens and groups, pertaining to recent crypto asset laws taking effect on May 1.
The fresh laws span several areas, such as security token offerings, or STOs, crypto asset wallets and derivatives.
Crypto regulation changes could come into play starting May 1
Japan’s Cabinet Office Ordinance recently publicized altered crypto regulations, which might come into play on May1.
The regulatory guidelines, which are called the Revised Funds Settlement Act, relate in part to the settlement of assets.
Crypto exchange removes three assets
Japanese crypto exchange, Zaif, revealed plans to remove three crypto assets from its platform.
The exchange will delist BitCrystals (BCY), PepeCash, and Storage Coin X (SJCX) on April 30.
BitBank exchange head predicts crypto exchange mergers
Bitcank exchange COO Hiroyuki Mihara predicted crypto exchanges will join forces. “Many exchanges will be merged,” he said in response to regulatory alterations expected to take place in May, noting changes to the Payment Services Act and the Financial Instruments and Exchange Act in particular.
The COO mentioned laws include doubling the available leverage limits, which could create competition among entities.
Mihara did, however, note positive outcomes of such business competition, including tighter trading spreads and increased liquidity.
Nomura Research Institute launches Japan’s first blockchain-based bond
Management consulting and economic research outfit, Nomura Research Institute, or NRI, launched Japan’s pioneer blockchain-based bond.
NRI unveiled two different “unsecured” corporate blockchain bonds. One of these takes the place of compensated interest, while the other applies to monetary interest.
The bond offering involves NRI, as well as Nomura Holdings’ blockchain venture, BOOSTRY, Nomura Securities, and Nomura Trust & Banking.
The Nomura Institute of Capital Markets Research also formed a study entity to dive into blockchain further. The group also includes participation from several other entities.
Other companies are playing the field more. Binance, the world’s largest cryptocurrency exchange, went shopping for a new location after Japan shut it down this year for operating without a license. The exchange, which is known for its desire to skirt regulations, announced in March that it would open new offices in Malta with hundreds of employees as a result of the friendly laws the country had put into motion. That prompted Malta’s prime minister, Joseph Muscat, to post a congratulatory tweet and proclaim the island’s intention to be the “global trailblazers in the regulation of blockchain-based businesses.”