温馨提示：本站仅提供公开网络链接索引服务，不存储、不篡改任何第三方内容，所有内容版权归原作者所有
AI智能索引来源：http://www.bee.com/vi/43581.html
点击访问原文链接

Japans Financial Services Agency approves new regulatory framework for cryptocurrencies and stablecoins: policy interpre | Bee Network

进入原网站 导航首页
Japans Financial Services Agency approves new regulatory framework for cryptocurrencies and stablecoins: policy interpre | Bee Network Login Tin tức thịnh hành Nền tảng khởi chạy meme Các tác nhân trí tuệ nhân tạo (AI) DeSci TopChainExplorer Dành cho Newbee Tiền xu 100 lần Trò chơi Ong Trang web cần thiết ỨNG DỤNG Phải Có Người nổi tiếng về tiền điện tử DePIN Tân binh cần thiết Máy dò bẫy Công cụ cơ bản Trang web nâng cao Trao đổi Công cụ NFT CHÀO, Đăng xuất Vũ trụ Web3 Trò chơi Ứng dụng phi tập trung (DApp) Tổ ong Nền tảng phát triển QUẢNG CÁO Tìm kiếm Tiếng Anh Nạp xu Đăng nhập Tải xuống Đại học Web3 Trò chơi Ứng dụng phi tập trung (DApp) Tổ ong QUẢNG CÁO trang chủ•Phân tích•Văn bản chính Japans Financial Services Agency approves new regulatory framework for cryptocurrencies and stablecoins: policy interprePhân tích1 năm trước (2025)更新Wyatt 34.9401 18 On February 19, 2024, the Financial Services Agency (FSA) of Japan approved the Report of the Working Group on Fund Settlement System, etc. at the General Meeting of the Financial Services Council (chaired by Chairman Hiroyuki Kansaku).

The report is the final result of seven rounds of discussions in response to the consultation request of the Minister of Finance in August 2024. The core content of the report involves a new regulatory framework for mật mãcurrencies (virtual currencies) and stablecoins, especially specific suggestions on user protection when exchanges go bankrupt, the establishment of intermediary businesses, and asset utilization rules for stablecoins. This policy trend marks a further refinement of Japans regulation in the field of cryptocurrencies and stablecoins, aiming to balance innovation and risk control.

This article will provide an in-depth interpretation of this new regulatory framework from four aspects: policy background, main content, policy impact and future prospects.

1. Policy Background: FTX Bankruptcy and User Protection Needs In November 2022, the bankruptcy of FTX, the worlds second largest cryptocurrency exchange, shocked the entire cryptocurrency industry. The collapse of FTX not only resulted in billions of dollars in user asset losses, but also exposed the weak links in the regulation of cryptocurrency exchanges. As an important participant in the global cryptocurrency market, Japans regulator, the Financial Services Agency, responded quickly and began to re-examine the shortcomings of the existing regulatory framework.

As early as 2017, Japan included cryptocurrencies in the scope of regulation through the Funds Settlement Act and established a relatively complete exchange license system. However, the FTX incident shows that existing regulatory measures alone are still not enough to deal with extreme situations such as exchange bankruptcy. Therefore, the Financial Services Agency launched a new round of regulatory reforms in 2024 to strengthen user protection and improve market transparency.

II. Main contents of the new regulatory framework 1. Strengthening user protection in the event of exchange bankruptcy
The report proposes to introduce new clauses into the Funds Settlement Act with reference to the relevant provisions of the Financial Instruments and Trao đổi Act to strengthen user protection when cryptocurrency exchanges go bankrupt. Specific measures may include:

Asset isolation requirements: Exchanges are required to strictly separate user assets from their own assets to prevent user assets from being used to repay debts in the event of bankruptcy.

Bankruptcy liquidation priority: Clarify the users priority right to repayment in bankruptcy liquidation to ensure that user assets can be returned first.

Information disclosure obligations: Exchanges are required to disclose their financial status and asset custody status on a regular basis to enhance transparency.

These measures are intended to prevent the recurrence of incidents similar to FTX and provide users with a safer trading environment.

Excerpt from the Financial Services Councils Report on the Working Group on Fund Settlement Systems, etc.

2. Establishment of cryptocurrency intermediary business The report also proposed a new business model – cryptocurrency trading intermediary business. This type of intermediary will adopt the affiliation system, that is, it must be affiliated with a specific exchange to conduct business. Unlike traditional exchanges, intermediaries do not directly custody user assets, so their regulatory requirements are relatively loose:

No property custody obligations: intermediaries do not directly hold user assets, reducing the risk of misappropriation or loss of funds.

Simplified entry conditions: Intermediaries do not need to meet strict financial requirements and do not bear direct obligations for anti-money laundering (AML) and combating terrorist financing (CFT).

Business scope restrictions: Intermediaries are only responsible for matchmaking and are not involved in complex businesses such as asset custody and liquidation.

The establishment of this new business model aims to lower the market entry threshold, promote market competition, and at the same time ensure the business compliance of intermediary institutions through the affiliation system.

3. Adjustment of stablecoin asset usage rules The report proposes important adjustments to the rules for the use of stablecoin assets. Under current regulations, stablecoin issuers must deposit assets of equivalent value in banks in the form of required deposits. The new framework allows issuers to use part of their assets for low-risk financial products such as short-term government bonds and time deposits:

New asset categories: Stablecoin issuers are allowed to invest no more than 50% of their assets in short-term government bonds and time deposits.

Risk control: A 50% cap is set on the proportion of newly added asset categories to ensure that the stablecoins asset reserves have sufficient liquidity.

This adjustment aims to improve the asset utilization efficiency of stablecoin issuers while controlling risks through proportional restrictions.

3. Policy Impact Analysis 1. Impact on Users The biggest beneficiaries of the new regulatory framework are ordinary users. By strengthening user protection measures in the event of exchange bankruptcy, the security of users assets will be significantly improved. In addition, the establishment of intermediary businesses may reduce transaction costs and provide users with more options.

2. Impact on exchanges and intermediaries For exchanges, the new regulations will increase their compliance costs, especially requirements for asset isolation and information disclosure. However, these measures will also help to enhance the credibility of exchanges and attract more users. For intermediaries, the establishment of new formats provides small and medium-sized enterprises with opportunities to enter the market, but the affiliation system also means that their business independence is limited.

3. Impact on the stablecoin market Adjustments to the rules for the use of stablecoin assets will increase the issuers asset yield, thereby enhancing its profitability. However, the 50% upper limit also limits the issuers risk-taking capacity, ensuring that the stability of stablecoins is not affected.

4. Impact on the Japanese cryptocurrency market The new regulatory framework further consolidates Japans position as a global leader in cryptocurrency regulation. By balancing innovation and risk control, Japan is expected to attract more international capital and projects into its market.

IV. Future Prospects With the implementation of the enhanced user protection measures proposed by the Financial Services Agency, Web3 security compliance companies such as Beosin play a vital role in this process. Beosin focuses on security compliance in the crypto asset industry and provides comprehensive smart contract security audit and compliance services. Through these technical supports, crypto asset service providers can operate within the compliance framework and effectively prevent potential security risks.

This new regulatory framework of the Japanese Financial Services Agency marks a new stage in the regulation of cryptocurrencies and stablecoins. However, with the rapid development of technology and the constant changes in the market, regulators still need to remain flexible and respond to emerging risks in a timely manner.

Possible future development directions include:

Cross-border regulatory cooperation: The global nature of the cryptocurrency market requires regulators in various countries to strengthen cooperation and formulate unified regulatory standards.

Technology-driven regulation: Using tools such as blockchain technology and artificial intelligence to improve regulatory efficiency and transparency.

User education: Strengthen the popularization of cryptocurrency knowledge among ordinary users and improve their risk awareness and self-protection capabilities.

The new regulatory framework approved by the Japanese Financial Services Agency is an important milestone in the field of cryptocurrency and stablecoin regulation. By strengthening user protection, establishing intermediary businesses, and adjusting the rules for the use of stablecoin assets, Japan has not only promoted market innovation, but also provided an important reference for global cryptocurrency regulation. In the future, with the gradual implementation of this framework, Japan is expected to occupy a more important position in the global cryptocurrency market.

Liên kết tham khảo

This article is sourced from the internet: Japans Financial Services Agency approves new regulatory framework for cryptocurrencies and stablecoins: policy interpretation and impact analysis

Related: 6 top institutions’ outlook for 2025: AI craze will continue, a key year for exploring excess returns Original author: Stoic Original translation: TechFlow We distill the core viewpoints of the worlds top institutions for you, saving you the time of reading hundreds of pages of reports. Data sources: JP Morgan, Blackrock, Deutsche Wealth, World Bank, Goldman Sachs and Morgan Stanley. 1. JP Morgan’s core view Global economic growth: The global economy is expected to maintain growth in 2025, but Chinas economy may slow down significantly. Stock Chợ Forecast: The SP 500 is expected to reach 6,500, but global stock markets may show divergent performance. Global Market Outlook In the coming months, market trends will be influenced by the interaction between macroeconomic trends and monetary policy, while policy changes from the new US administration will also bring uncertainty. Technological innovation, especially the “continuation of the AI boom,” will…

Phân tích #Tiền mã hóa #Trao đổi #Thị trường #Công cụ ## web3© 版权声明Mảng 上一 hình ảnh FTX’s first round of $7 billion compensation has arrived. Can it bring about this round of altcoin season? 下一 hình ảnh Avenir Group leads institutional Bitcoin ETF investment, with $599 million in holdings ranking first in Asia and among t 相关文章 The Excluded 82%: A Record of Chinese Creditors’ Self-rescue in the FTX Liquidation Dispute 6086cf14eb90bc67ca4fc62b 25.510 1 BitMart Weekly Market Report (December 9 – December 15) 6086cf14eb90bc67ca4fc62b 15.928 The man behind Hyperliquid was an apprentice at Binance Labs seven years ago. 6086cf14eb90bc67ca4fc62b 19.018 24-Hour Hot Coins and News | Trump officially signs executive order allowing 401(k) investors to invest in cryptocurrenc 6086cf14eb90bc67ca4fc62b 24.168 1 ADL, the last line of defense 6086cf14eb90bc67ca4fc62b 19.581 In-depth Market Forecast Report: Liquidity Paradigm, Industrial Leap, and the New Primitive Revolution 6086cf14eb90bc67ca4fc62b 14.015 1 bình luận Bạn phải đăng nhập để co thể để lại một lơi nhận xét! Đăng nhập ngay lập tức muran Khách mời v吃厕所

10 tháng trước Bee.com Cổng thông tin Web3 lớn nhất thế giới Đối tác đồng xuCá chép Binance CoinMarketCap CoinGecko Coinlive Giáp Tải xuống Bee Network APP và bắt đầu hành trình web3 Giấy trắng Vai trò Câu hỏi thường gặp © 2021–2026. Tất cả quyền được bảo lưu. Chính sách bảo mật | Điều khoản dịch vụ Tải xuống ứng dụng Bee Network và bắt đầu hành trình web3 Cổng thông tin Web3 lớn nhất thế giới Đối tác CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors Giấy trắng Vai trò Câu hỏi thường gặp © 2021–2026. Tất cả quyền được bảo lưu. Chính sách bảo mật | Điều khoản dịch vụ Tìm kiếm Tìm kiếmTrong trang webOnChainXã hộiTin tức 热门推荐: Thợ săn airdrop Phân tích dữ liệu Người nổi tiếng về tiền điện tử Máy dò bẫy Tiếng Việt English 繁體中文 简体中文 日本語 العربية 한국어 Bahasa Indonesia हिन्दी اردو Русский Tiếng Việt

智能索引记录