The Japan Token Offering Association (JSTOA) Issues New Regulatory Guidelines for Crypto Asset Management
In a recently held meeting, The Japan Token offering Association (JSTOA) has released new regulatory guidelines to protect the crypto assets and privacy of the customers.
The guidelines are said to be in accordance with the country’s Financial Instruments and Exchange Act (FIEA) and will be implemented from 1 May 2020.
The guidelines have been issued in a meeting headed by the Board of Directors of the Association under the presence of the employees.
Rules for transfer rights of crypto assets and management of customer assets have also been finalized in this meeting. The Association further decided to track the management of the customer’s assets on a regular monthly basis along with certified public accounts and audits.
Crypto Guidelines Implementation to be enforced from May
As per the information provided by the Association, the implementation of the Crypto regulatory rules will come into effect from May 1 onwards.
As a preventive measure against the investment solicitation, the Association is considering a more transparent definition for selling digital assets to customers who are more vulnerable to frauds.
More about Japan Token Offering Association (JSTOA)
The JSTOA which has been established in October 2019, is headquartered in Tokyo. The aim behind the establishment of this association is to support the development of Security Token Offerings (STOs) through fundraising by unifying various expertise form the crypto industry. Japan Token offering Association has been supported by several major financial firms such as Nomura Securities, SBI Securities, Rakuten Securities, and Monex to name the few.
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