Japan Virtual Money Business Association issued "Opinions on Encrypted Asset Management"

According to Cointelegraph, on October 11, the Japan Virtual Money Business Association (JCBA) published the "Opinions on the Management of Encrypted Assets." Suggestions for revision of the scope of custody of virtual currency custodians and the management method of virtual currency in the "Funding Algorithm" that will take effect in April 2020. In order to prevent money laundering and protect users, JCBA requires that the scope of the statement “management of cryptographic assets for others” as defined in the revised “Funding Algorithm” should be clearly defined in terms of transaction guidance, etc., under which circumstances It belongs to "Encrypted Asset Management".