New Economic Federation submits "requests for new regulations on crypto assets" to the Minister of Finance
New Economic Federation Submits Regulatory Demands to Financial Minister
On February 14, it became clear that Rakuten’s Hiroshi Mikitani, serving as representative director, led the General Incorporated Association “New Economic Federation (Note)” and submitted “Requests Regarding New Regulations for Cryptographic Assets” to the Financial Minister.
According to a press release issued by the New Economic Federation, the key points of the submitted requests are broadly five in number:
- Regarding investment-type ICOs – Clarifying targets that would constitute “Category 1 Securities” –
- Regarding payment-type ICOs – Clarifying responsibilities of issuers and exchange operators –
- Regarding custody services – Clarifying the scope of activities that fall under regulation –
- Regarding derivative trading – Realizing handling under the first kind of financial commerce –
- Other (tax system)
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