Crypto Regulator Says Easing of Restrictions in Japan Must Wait
- Junichi Nakajima took over as Japan’s FSA chief last month
- Nakajima questions if necessary to make buying crypto easier
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Japan needs more convincing of the merits for making cryptocurrency investing easier for its population, according to the country’s top regulator.
While Financial Services Agency Commissioner Junichi Nakajima said he’s open-minded about the potential benefits that assets like Bitcoin possess as a quick and cheap way to send cash, in Japan currently, they are mainly being used for speculation and investment, not as a means of transferring money. New challenges are coming from a broader proliferation of firms involved in decentralized finance, known as DeFi, he said.