Exclusive: Japan’s Regulator For the First Time Recognizes ICO’s Function of Financing

7th October, 2018 (ChainDD)

According to an exclusive report from ChainDD’s correspondent in Japan, on the sixth Seminar of the Virtual Currency Industry Player hosted by the Financial Services Agency (FSA) on 3rd October, the Japanese government agency and financial regulator recognized Initial Coin Offering (ICO) boasts the function of financing for the first time.

“As financial derivatives and ICO brought by virtual currencies are evolving, the currencies themselves began to play different roles, not only used for payment and settlement, but also serving investing, financing and other various functions.” FSA said.

This is the first time for Japanese authority publicly referring to ICO’s function of financing, which means FSA will further push for ICO legalization. ChainDD is going to bring the in-depth analysis instantly, and please keep follow us for the latest and broad coverage of global news.

ChainDD’s special correspondent once reported FSA’s Interim Inspection Report for Digital Currency Exchanges, which concluded the authority’s management measures for virtual currencies and ICO until the first half of this year, and identified its future policies and strategies.