The Financial Services Agency of Japan (FSA) requires the ICO platform Blockchain Laboratory from Macau to stop working in the Japanese market. Earlier, the regulator warned the company about the need to obtain a license, but the requirements were ignored. This is reported by Asia Nikkei.
If the regulator's requirements are not met, the FSA intends to initiate a criminal case against the Blockchain Laboratory in cooperation with the police and the Consumer Agency.
Blockchain Laboratory is based in Macau and operates as an initial coin offering agency to raise funds using cryptocurrencies.
The company’s activities are cryptocurrency and ICO consulting services and conducting seminars to attract investors.
The FSA has advised the company to “halt its business activities in Japan, without success”. According to the officials of the agency, the FSA “will warn the company directly, and name it on the FSA’s home page.” If the operator still fails to comply, criminal charges will be filed.