Japan's Financial Services Agency publishes decree and Cabinet Decree on amendments to the Funds Clearing Algorithm

According to JP. Cointelegraph, the Japan Financial Services Agency (FSA) announced on the 14th amendments to the government decree, cabinet decree, and business guidelines on the amendments to the Funds Settlement Algorithm. Regarding the system of virtual currencies (legally crypto assets) is the core content of this revision. Relevant rules and regulations such as the prior application of registration of the "crypto asset exchange" have been sorted out, which lowered the transaction threshold that needs to be confirmed when trading. In addition, the rules and regulations on virtual currency derivative transactions and fundraising transactions have also been collated. According to the announcement form of the Financial Services Agency, the requirements for registration application of the gold business law transaction industry and the relevant provisions of the gold business law business when conducting derivatives transactions and fund raising transactions were collated.