According to the plan of reorganization of the agency, the bureau of supervision of asset management and the insurance market should help the Japanese go from savings to investment in new products in the financial market.
The bureau intends to pay special attention to financial institutions. An “supervision planning officer” will be appointed to control credit unions and cooperatives related to virtual coins. The new structure will also receive a mandate for the development of legislation for crypto companies and digital financial services, the agency said.
According to the authorities, this should provide reliable protection of investors and help Japan strengthen its position as a leading financial and digital market in the region.
Earlier, the Japanese financial services agency published a document proposing to divide digital assets into two categories: commercial and non -profit.
Source: Bits
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