Japan’s financial watchdog has urged regulators in the United States and Europe to regulate crypto the same way they do traditional financial institutions, such as banks.
Financial regulators in Japan have urged global regulators to treat crypto the same way as they do banking, calling for tougher rules for the sector.
“If you like to implement effective regulation, you have to do the same as you regulate and supervise traditional institutions,” he said according to a Jan. 17 BloombergThe comments from Japan’s financial watchdog come in the wake of the collapse of FTX in November, which rattled the industry and sparked urgency for regulatory action.
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