Japan

Currently, investment firms collecting funds from investors in cryptocurrency do not explicitly fall under Japan’s Financial Instruments and Exchange Act.

The FSA is gauging industry interest in crypto ETFs, following its release of a new draft framework for the sector that could become law in 2020.

The framework will impose restrictions on privacy coin listings, margin trading, derivative transactions and ICOs, and introduce new requirements to protect investors against hacks.

The Tokyo Stock Exchange will examine Nissan's internal controls and consider punitive penalties including possible delisting, amid allegations of financial misconduct by its former chairman.

The probe has been ongoing since late 2017, where MUFG is alleged to have intentionally ignored internal controls meant to prevent it doing business with sanctioned entities.

The suspects allegedly solicited investments in what they claimed was a US investment firm, collecting over $72mn in cash and cryptocurrencies from about 6,000 people.

An FSA official told Bloomberg that the regulator will discuss the issue of unsold bonds held by underwriters during its regular discussions with market participants.

Prime Minister Shinzo Abe instructed ministers to propose amendments to existing laws to simplify consolidation of regional banks, many of which are struggling to maintain profitability.

The credit line is aimed at preventing a liquidity crunch after a scandal involving falsified proof of income and assets to approve loans resulted in mass withdrawals by depositors.

Nine banks will use Fujitsu technology to test the ability of a custom digital currency to achieve low-cost performance of real-time gross settlement for small-scale transactions.