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Japan STO Association Issues New Regulations

According to prime xbt, Japan Securities Token Issuers Association (JSTOA) has just released self-regulating guidelines on how to segregate customer assets and electronic transfer rights.

On the JSTOA website on April 20, the association implements the guidelines for the changes in the FIEA Act, which were passed by the House of Representatives and began to be implemented from May 1.

At a meeting that included employees and the board of directors, the association laid out rules on the right to transfer electronic records and manage clients’ assets. JSTOA will check the client’s asset management once a month with a certified accountant and auditor.

See more: Bitcoin doubled in 2020, causing a difference in fees and transaction speed

Regulations related to crypto are about to be enforced

New crypto laws in Japan are starting to be enforced. The FIEA and payment services regulation, both of which underpin existing financial legislation, will go into effect starting in May.

Based in Tokyo, JSTOA was launched in October 2020 to support the development of security tokens. Organize funds by demonstrating industry expertise, ensuring legal compliance and protecting investors. The association is supported by major domestic financial groups such as Nomura Securities, Rakuten Securities, SBI Securities, Monex, and others.