Japan’s FSA Proposes New Registration Rules for Crypto Service Providers

To enhance security and protect user assets, Japan’s Financial Services Agency (FSA) has proposed new regulations requiring digital asset custodians to register. This move comes after the DMM Bitcoin hack and aims to improve on past legislation that focused primarily on exchanges. The proposal, discussed on November 7th, could significantly reshape Japan’s crypto market, bolstering security and oversight of digital assets while potentially influencing global regulatory standards.