As the US grapples with the legal status of digital assets under its existing frameworks, many critics point to countries such as Japan as blueprints for sensible regulation. However, certain draconian elements of Japan’s crypto laws mean the nation may not be quite as easy to navigate as its crypto-friendly reputation implies. With deep local expertise and a vision for the development of the crypto payments segment in Japan, projects like Slash are now finding a way through the complexity.
FTX was back in the news again recently, as former users of the collapsed exchange in the US received a promising update from the firm’s bankruptcy estate that they could be compensated in full for their losses. It may come as a surprise to some of these users that another segment of the FTX customer base has already received full settlement from the firm – those who were based in Japan. As a subsidiary entity operating as part of Japan’s strictly regulated digital asset sector, FTX Japan was subject to rules, such as the requirement to segregate customer funds in fiat and crypto from the exchange’s own assets. This meant that when the firm collapsed, the Japanese entity was able – and required – to compensate customers in full for their losses. Source: The Crypto Basic
0 Comments
Leave a Reply. |