Japan will strengthen regulatory system for cryptocurrencies
The archipelago's cabinet approved a bill that will have a direct impact on the management of digital assets in the Asian nation
The Japanese cabinet approved a bill that would strengthen regulations for financial instruments and payment services.
The leading country in cryptographic regulation also intends to include two extremely important changes which would have a direct impact on the use of cryptocurrencies.
As a first step, it is planned to define a cap on the cryptocurrency trade margin in line with currency trading, with a rate two to four times higher than the initial deposit.
The country’s regulatory group claims that the use of cryptocurrencies has been speculatively superior to its use as a payment means.
The Japan Virtual Currency Exchange Association noted that cryptographic margin trade in Japan rose to 75.6 billion dollars by December 2018, 11 times higher than conversions between cryptographic and fiat money.
K. Tovar
Source: Diario Bitcoin
