Japanese financial regulator does not consider stabilini as a cryptocurrency

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The financial services Agency of Japan does not consider stabilini as a virtual currency regulated by local normative acts for kriptonyte. It is reported Bitcoin.com.

According to representatives of the Ministry, according to the adopted in April last year, the legislation, the definition of “virtual currency” fall scriptactive used as means of payment. The latter is not taxed on consumption. Also operators kryptomere you must register with the financial services Agency.

From the point of view of Japanese law stabilini not regulated by analogy with other digital assets:

“In fact, tied to Vietnam currencies stabilini not fall under the category of “virtual currency” in accordance with the Law on payment services”, — said the representatives of the regulator.

However, this does not mean that stabilini are in a legal vacuum:

“Working with stablename broker-dealers must register as Issuer of prepaid payment instruments or service providers for the distribution of funds in accordance with the Law on payment services”, — said the representative of the FSA.

Earlier, the Japanese IT giant GMO Internet has announced the launch in 2019 stablon tied to the Japanese yen.

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