Japanese Web 3 Lawmaker Urged To Make The Crypto Regulation More Easier

The Japan Virtual and Crypto Assets Exchange Association says it plans to make it easier for authorized exchanges to list digital currencies by loosening the screening process. The Japan Virtual and Crypto Assets Exchange Association, the governing body that deals with crypto assets in Japan, released documents of plans to further ease crypto laws in the country. According to a Bloomberg report, as early as December of this year, the association wants to implement a looser screening process for already authorized exchanges to list virtual coins. However, this would apply to tokens that are....

U.S. Congressman Brad Sherman has urged the U.S. Securities and Exchange Commission (SEC) to go after major cryptocurrency exchanges that traded xrp, which the regulator deems a security. “It’s easier to go after the small fish than the big fish, but the big fish operating major exchanges did many, many tens of thousands of transactions with xrp,” said the lawmaker. US Lawmaker Urges SEC to Focus on Major Crypto Exchanges Congressman Brad Sherman (D-CA), chairman of the House Financial Services Subcommittee on Investor Protection, held a hearing Wednesday to....

If passed, the rules reform could make it easier for domestic exchanges to list more crypto without needing to go through a long screening process. The Japanese government is considering a proposal to make it easier for registered crypto exchanges to list digital assets in the local retail trading market.Sources quoted in Bloomerg said that if the new rules are passed, exchanges that have registered with the Financial Services Agency (FSA) would be able to list certain assets without performing a lengthy screening process. Digital assets that have been listed for more than six months on at....

A U.S. lawmaker has urged the Biden administration to develop a “robust strategy” to prevent cryptocurrency from being used to evade sanctions. “Emerging technologies like cryptocurrency offer many positive applications like humanitarian relief, but the administration has not kept pace in ensuring this novel form of currency is not used to the detriment of U.S. national security,” he said. Congressman McCaul Wants a ‘Robust Strategy’ to Prevent Crypto Use to Evade Sanctions A senior member of the House Foreign Affairs Committee, U.S.....

There are bigger and more important things to worry about at the moment for the Japanese ruling party, it would seem. Reuters reports that the Liberal Democratic Party in the country has decided to not pursue the regulation of digital currency in the aftermath of the collapse of Mt. Gox, a Tokyo-based bitcoin exchange. "Basically, we concluded that we will, for now, avoid a move towards legal regulation," Takuya Hirai was quoted as saying. Hirai is a Liberal Democratic Party lawmaker who heads the internet media division of the party. A final decision as to whether or not said regulation....