FSA has recently published 41-page document on financial policy. There is the unit on Bitcoin and other cryptocurrencies.
First topic of discussion was providing protection of crypto-exchanges. As cryptocurrencies utilizing Blockchain technology, “which was not seen before,” agency claimed that both business and system management required.
The agency decided to “look at the trends in the currency market” and ensure that each operation took place at exchanges. FSA also pays its attention to the balance between the promotion of innovation and the protection of users, noted that it is necessary to monitor whether the system is in place, they will respond to changes in the environment surrounding the virtual currencies for protecting users, such as verifying appropriate explanation or information provision for users is in place.
FSA tries to provide high-level security to users “through safe and stable system operation and fraud prevention.” It will be provided by verifying whether risk management has already been installed at crypto-exchange.
The Agency also will struggle against such crime acts like money laundering.