customer assets: If necessary, the agency will carry out on-site inspections. ; Virtual currencies have led to the creation of innovative services thanks to their low settlement and remittance costs, while they have been used in crimes such as fraud and money laundering, according to The Japan Times. We pursue both market fostering and regulation enforcement, an FSA executive said. The FSA will monitor whether the exchanges for bitcoin and other digital currencies have appropriate internal systems, including ones to protect customer assets. We aim for sound market development. Pundits say there are more than 20 such exchanges in Japan. Virtual currencies can be bought and sold on exchanges run by private companies.
(news.financializer.com). As
reported in the news.
Tagged under customer assets, currencies topics.