Japanese FSA to Change Exchange Regulations

Coincheck hack forced FSA to tighten crypto regulation
03 July 2018   1133

The Japanese Financial Services Agency (FSA) is considering the possibility of changing the legal and regulatory framework for controlling exchange operations with bitcoin and other cryptocurrencies, –°ointelegraph reports.

In particular, the FSA is considering the issue of regulating crypto exchanges in accordance with the Financial Instruments and Exchange Act (FIEA), instead of the currently used Payment Services Act. This means that exchanges will have to provide more reliable protection of customers. FIEA obliges financial companies to manage clients' funds and securities, such as shares, separately from corporate assets.

According to the current legislation, cryptocurrencies are legally positioned as the same means of payment as electronic money. If FSA starts to regulate exchanges within FEIA, crypto assets will be treated as a financial product. FIEA will also open the possibility of introducing cryptographic derivatives, such as exchange-traded funds (ETFs).

Coincheck hack forced FSA to tighten crypto regulation. After this incident, FSA began to investigate the activities of 15 unregistered exchanges, revealing a number of security flaws and regulation of business transactions.

Nasdaq to Launch Index, Based on 100 Crypto Assets

Neural network, considering 200 different factors, helped to create the list of the assets tracked by the CIX100 index
16 October 2019   84

Nasdaq, the world's second largest stock exchange, has added the CIX100 index based on 100 crypto assets, reports CoinTelegraph.

When building a basket of hundreds of leading digital assets, the tool from Cryptoindex.com uses neural network algorithms that take into account more than 200 different factors. Such a comprehensive analysis allows, in particular, to exclude coins with fake volumes.

It is also known that the index draws data on transactions on the nine largest bitcoin exchanges, and also analyzes information from social networks and the media. Only those coins that last in the top 200 for at least three months can become components of the CIX100. The composition of the index will be reviewed monthly.

According to the developers, the index will be useful for both newcomers to the industry and professionals.