Financial Services Agency

Crypto / Digital Assets

Japan FSA Reorganises to Meet Fintech Challenge

By Editors | 19/07/2018

Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.

Crypto / Digital Assets

Bank-backed Crypto Exchange Opens to Retail Investors in Japan

By Garima Chitkara | 19/07/2018

Following limited launch by SBI Holdings in June, cryptocurrency exchange VCTRADE has now begun accepting retail investors; no applications allowed from corporate or institutional investors.

Enforcement

MUFG Brokerage Unit Primary Dealer Status Suspended

By Manesh Samtani | 17/07/2018

Dealer found to be manipulating prices in JGB futures trading, resulting in one-month suspension of the firm’s primary dealer status for one month.

Enforcement

Japan’s Higashi-Nippon Bank Under Fire for Lending Misconduct

By Manesh Samtani | 16/07/2018

The bank falsified customers’ financial records to boost loans, illicitly charged fees on loans in addition to interest, and used inappropriate financing methods involving over-lending to customers.

Market Infrastructure

Japan FSA Issues Revised Report on Supervisory Overhaul

By Manesh Samtani | 08/07/2018

Report was revised following consultation on proposed move to ‘dynamic supervision’ model; FSA says existing supervisory approaches deter focus from priority issues and may not prevent next crisis.

Fintech / Regtech

Japan’s Line Corp To Launch Crypto Exchange in Singapore

By Garima Chitkara | 02/07/2018

Cryptocurrency exchange will be launched outside Japan, with application with Japan FSA still pending; Line Corp looking to capitalise on user base for payments, transfers and asset management services.

Crypto / Digital Assets

Japan to Use Credit Scores to Monitor Crypto Trading

By Emma Zhou | 29/06/2018

The Japanese government plans to use personal credit information and social media IDs to monitor suspicious crypto trading activities and accounts.

AML / KYC

Non-EU Markets Regulators Seek Formal GDPR Exemptions – Report

By Manesh Samtani | 28/06/2018

New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan’s FSA and Hong Kong’s SFC to press for formal clarification on application of cross-border information sharing exemptions.

AML / KYC

UPDATED – Japan Orders Six Crypto Exchanges to Improve AML Systems

By Garima Chitkara | 25/06/2018

FSA issued business improvement orders to six exchanges after it found lax AML processes during on-site inspections. Of the six targeted, BitFlyer has stopped taking on new clients until it makes changes to its client management processes.