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Japanese Financial Services Agency: Considering Establishing IEO Investment Cap, Aiming to Standardize Loan Business Risk Management

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November 7th. As per CoinPost, the Japan Financial Services Agency convened the fifth meeting of the Crypto Asset System Working Group within the Financial System Council. The attendees engaged in a discussion regarding the intensification of regulations on cryptocurrency lending businesses. The novel policy mandates that companies establish a risk management system for borrowers and collateral providers, set up a secure cryptocurrency storage and management system, elucidate risks to customers, and standardize advertising. Transactions between institutional investors, such as non-public lending, will not be subject to regulation. The meeting also put forward a recommendation to introduce a proposal for an IEO investment cap in order to prevent issuers from raising funds from a wide range of ordinary investors in IEOs (Initial Exchange Offerings) without the necessity of financial audits, which could give rise to over-investment due to sales pressure.

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