The government of the country has announced the new regulations on the cryptocurrencies and digital tokens. The conservative decision preceded by harsh actions of the central bank of the country may slow down the pace of development of the crypto sphere.
As per source familiar to the plans of FSA, Binance received the warning as it was expanding its operations in Japan without taking prior approval from the agency.
The world’s economic leaders agreed to monitor the industry and to develop regulation proposals but no serious actions will be taken in the near future.
The Securities and Investment Subcommittee met to discuss possible ways to tackle ICO-connected issues, while some just snatched an opportunity to castigate digital currency as a phenomenon.
Lagarde said that the same blockchain technology which underpins cryptocurrencies can be used to regulate cryptocurrencies and also track whether they are being used for any illicit activities.
During the Yahoo Finance All-Markets Summit that took place on Feb. 7 in New York City, a top U.S. financial regulator had stuck an upbeat tune about the practice of formal self-regulation within robust cryptocurrency ecosystem.