Financial Services Agency to Tighten Penalties for Unregistered Cryptocurrency Sales

The Financial Services Agency has decided to impose stricter penalties on companies that sell cryptocurrencies without registration, as reported by Nikkei on the 16th. In line with the transition of cryptocurrency regulation from the Payment Services Act to the Financial Instruments and Exchange Act (FIEA), the penalties will be tightened to enhance investor protection. Related: Financial Services Agency considers investigating the legality of the 'SANAE TOKEN' cryptocurrency, according to reports. Specifically, criminal penalties for unregistered sellers will...