Japan’s financial landscape has become more open to Security Token Offerings. After it came out in may already to a relevant change in the law, have now also large brokerage firms of the thing. Together, they founded the Japan STO Association.
By Anton Livshits
5. October 2019BTC$8.052,25 -1.44%part Facebook Twitter LinkedIn xing mail
announced Six major Japanese brokerage firms have the Foundation of Japan’s Security Token Offering Assciation (Japan STO Association). The Association acts as a registered Association. She has taken on the task to develop guidelines for self-regulation in the Security Token Offerings (STO).
the founding members include, among others, the well-established Japanese Broker Nomura Securities and Rakuten Securities. Add to that the Online Trading provider SBI Securities, kabu.com Securities, Daiwa Securities, and Monex, the operator of the Bitcoin exchange Coincheck. Monex announced the founding of the Association at the beginning of October in a press release. Here it is:
The Japan STO Association is committed to the development of STOs in Japan, of which she believes that they will contribute to a more active capital market and the development of the real economy.
Japan, STO Association wants to create an environment
According to his own statements, the Association would develop guidelines to promote a „healthy“ development of STO-models in Japan. For this purpose, the experience of the securities industry should be consolidated in one organization. To be able to your task as a self-regulatory body to the full extent meet the aims of the STO Association, the legal recognition as an Association of Undertakings for financial instruments.
the authors of The Monex press release also emphasise the difference between the Initial Coin Offerings (ICOs), and STOs. While the former were in the past, fraud cases, be recognised by the latter in law and, therefore, protected. In fact, Japan has been slow for crypto-based financial products. In may 2019, however, there was a change in the law that introduced the trade with STOs on a legal Foundation.
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The Japan STO Association would therefore like to develop policies to ensure Compliance with the legal requirements. In addition, she is working on measures for the protection of investors and to prevent money laundering and unfair Trading.
Japanese Bitcoin exchanges self-regulate
the principle of self-regulation, however, is not new for the Japanese crypto sector. Already in the year 2018, the local regulatory authority of the Japan Virtual Exchange Association is granted the Power to have the internal regulation of Bitcoin exchanges. Among the founding members were all 16, back in Japan active crypto-handling facilities. Self-regulation must, however, coincide also in the case of crypto-exchanges with the requirements of the financial Supervisory authority.
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