In two more months, what I think about the legal reform concerning cryptocurrencies

Two months until the enactment in April, but there was a bit of information that caught my eye.

From spring, it is well known that cryptocurrency exchange operations require government authorization, and in addition to that,

1) The currencies handled will also require authorization
2) Currency sales agents will be regulated
3) Prohibition of solicitation activities by cryptocurrency exchange operators with bases abroad

It seems there are also such contents, so I’ll just keep an eye on it.

Under the draft of the regulations, only coins that can be handled by exchanges will require authorization (for consumer protection). Small coins are less likely to be certified, so there is a possibility that they will become untradeable in Japan.
For salon members, please refer to Mr. Gotoh’s report for details.
> 055 “Regarding the publication of the Cabinet Office Ordinance (draft) on cryptocurrency exchange businesses”

— Tetsuo Oishi Bigstone (@tyk97)January 30, 2017

Below are my personal thoughts.

1) The currencies handled will also require authorization

I see. By doing this, you can indirectly make the sale of suspicious fraudulent coins illegal, thereby regulating and protecting consumers.

However, not all non-authorized coins are illegal coins, so be careful not to misinterpret that.

If registered exchanges handle cryptocurrencies that are already authorized, that would be reassuring (not sure what exactly); positively, it could be a factor in promoting buying and selling in Japan (whether physical or FX is involved).

What I want to know… which coins will be authorized

Bitcoin is obviously 100% expected, but will exchanges apply for authorization for all coins they currently handle, and will they pass? Ethereum, NEM, Ripple seem likely to pass without issue, but what about others?

What about anonymous coins like Monero or Zcash...?

What about Counterparty tokens or NEM mosaics, and which ones will be affected?

Now, the remaining two items,

2) Regulation of currency sales agents
3) Prohibition of solicitation activities by cryptocurrency exchange operators with bases abroad

And the conclusion isPlease read more on the official Crypto Stream sitehere!