Japanese officials have reportedly prepared a handbook offering guidance on cryptocurrency regulation, and plan to share that advice with central bankers and finance ministers attending the next G20 summit, according to a report from Finance Magnates and local media outlet Sankeibiz. That summit will be held in Osaka, Japan at the end of June.
Japan has long been one of the most crypto-friendly nations on Earth and has afforded digital currencies legal status within the country. Its regulators have been among the most forward-thinking as well. The Financial Services Authority (FSA) has increased its oversight of digital currency exchanges, which are now required to obtain operating licenses to do business in the country.
As the host of the June 28-29 summit, Japan will have tremendous influence over the agenda at the meeting. Traditionally, G20 gatherings have focused on broad economic issues that promote stability for the world’s economy, but discussions about cryptocurrency have become more commonplace in recent summits.
Japan apparently believes that its experience with regulating the sector could be of value to its G20 partners.
Reports suggest that the handbook includes guidance in a number of regulatory areas, including protections against cyberattacks, customer asset safeguards, and standards for ensuring that customers receive the information they need.