Japan’s Security Token Offering Association on Self-Regulatory Guidelines for Cryptoasset Management
No matter what is happening in the world right now, the cryptocurrency industry seems to be going on as usual, or at least it has not stopped the Japan Security Token Offering Association (JSTOA) recent proclamation of a self-regulatory guideline covering any and all protocol of separate cryptoasset management and digital record transfer rights for everyone to follow from hereon out.
As such, the JSTOA will now be operating under strict measures to verify and monitor customer assets managed each month via certified accountants and auditors. However, the association clearly stated recommend beforehand in regards to defining the specifics that constitute selling digital assets to elderly investors, all in order to prevent or at the very least discourage inappropriate investment solicitations targeting old people. This was due to the fact that there have already been many situations in the past where these type of customers were enticed to invest in fraudulent cryptocurrency transaction schemes, which is why it has been brought to the attention of the association as they now aim to establish strict guidelines for investment solicitation.
Based in Tokyo, the JSTOA was established in October of last year by Monex, Nomura Securities, Rakuten Securities, and SBI Securities with the goal of accelerating the growth of the ongoing development of security token offerings, a more secure and legal form of initial coin offerings, in the country. The said companies also formed this association to overall improve fundraising processes carried out by STOs, leveraging talent and expertise from within Japan’s crypto and blockchain sector. Lastly, they also plan to assist crypto businesses with compliance-related matters and with offering legal means of investor protection which in this case, is the vulnerable elderly.
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At FIAT Exchange, we have consultants to help innovative start-ups, promising businesses and even well-established corporations launch their own Initial Exchange Offering, Initial Coin Offering, Security Token Offering or Reverse Token Offering effectively, efficiently and successfully. As a constituting body, we act as partners and assist each and every project from compliance, fundraising, and to final listing in our Digital Marketplace.
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If you are an Investor looking to unlock access in the FIAT Exchange ecosystem and discover new investment opportunities or if you are an Entrepreneur looking to raise capital, we can definitely help! Please feel free to contact us: support@fiatxs.com
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