Monex CEO: Japan's attitude toward cryptocurrencies is heating up. Encrypted transactions are generally calm but long-term trends are positive

Oki Matsumoto, chief executive of Japan's financial giant Monex Group (Coincheck parent company), said Japan's attitude toward cryptocurrencies has begun to heat up. The Financial Action Task Force (FATF) will visit Japan in October. Prior to this, the Financial Services Agency (FSA) did not tighten supervision. Next year's new rules will include the clarity of cryptocurrency derivatives and STOs. So in 2020, we will see more confidential currency-related activities, not only trade activities, but also new products and services. Matsumoto said that Japan's encryption transactions are driven by retail investors. Although the current retail encryption trading activity in Japan is generally calm, the long-term trend is positive. Japan may still have the world's most advanced legal framework for cryptocurrencies. Therefore, Japan will soon see the recovery of retail encryption transactions.