The Financial Services Agency (FSA) in Japan has determined that non-custodial wallet services using authentication technology are not considered crypto asset trading businesses, in an effort to eliminate legal uncertainties in the crypto industry. Non-custodial wallets allow users to securely store and manage their assets, maintaining complete control over their private keys. This decision was made as part of the country's gray area elimination system, which aims to clarify regulatory frameworks and foster innovation. The FSA is also reevaluating its crypto regulatory framework, particularly in the areas of taxation and domestic investment funds, to ensure adequate investor protection. Furthermore, Japan plans to revise its gaming regulations to introduce new crypto-friendly rules for in-game cryptocurrencies.
- Content Editor ( coinedition.com )
- 2024-10-09
Japan’s FSA Simplifies Crypto Rules for Non-Custodial Wallets