Citing “informed sources,” Japanese press outlet JIJI Press reports that the Japanese Financial Services Agency is soon to regulate Initial Coin Offerings. The regulation will involve investment limits “for better protecting them.”
Similar to how securities tokens are required to register with the American SEC in the United States, companies which intend to issue virtual currencies in exchange for investments will be required to register with the FSA.
The FSA does not operate in precisely the same manner as the SEC, which has a wide purview emboldened by several post-Depression-era pieces of legislation. The FSA must submit bills to the Japanese parliament which modify actual Japanese financial law in order to enforce the regulations it has in mind, presenting an opportunity for crypto companies on the island nation to potentially lobby regulations that they deem appropriate, or even kill the move altogether.