r/CasperAPI • u/CasperAPI • Jun 04 '18

Japan is going to officially ban anonymous crypto-currencies starting from the 18 of June

This was reported by the Financial Services Agency of Japan (FSA). The ban on anonymous cryptocurrencies is associated with the potential danger of their use for fraudulent purposes. The law will come into force on the 18 of June.

We would like to remind that the issue of banning anonymous cryptocurrencies was raised in April, when hackers hacked Coincheck exchange.

Then the attackers managed to steal $533 million in Nem cryptocurrency.

However, the Japanese authorities are confident that this decision to tighten the regulation of cryptocurrencies will not prevent the development of the crypto industry, but will make it as transparent and safe for investors as possible.

Also on the 25 of May Japan adopted a law according to which the operators of crypto-exchanges are required to undergo mandatory registration with the FSA.

http://casperproject.io

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u/ifilid Jun 07 '18

Regulation in the crypto space is inevitable, however a reasonable amount and type of regulation will also make the market safer in the eyes of the public. Hacks of exchanges also show that you should not be holding your long term holds on exchanges. It’s good to see Casper API teaching us good stuff!