Regulations are coming - ideal for Nash

#1

This could be an extremely interesting development. As I read it, Japan want to introduce rules making individuals manage their own digital assets (i.e. cant be left on the exchange)
The keys lines are:

"…the upcoming G20 Summit in Osaka, Japan, from June 28th to 29th, lists cryptocurrencies as a leading topic on the agenda. Prime Minister Shinzō Abe’s government will address recent amendments to the Financial Instruments and Exchange Law and the Fund Settlement Act regarding virtual currencies and the digital economy.

There will be a special focus on security. In the wake of the Coincheck hack, which drained $532 million worth of NEM last year from the Japanese crypto exchange, policymakers are aiming to intensify crypto trading restrictions.

Following the coincheck hack, which was made possible due to crypto storage in hot wallets that interfaced with the internet, Japan’s Financial Services Agency has introduced legislation that requires customers to manage their own crypto assets using a “cold wallet” that is disconnected from the Internet."

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#2

Notably, they are bringing this to the G20, suggesting they encouraging other countries to adopt similar rules.
Would I be wrong in saying, that these rules, if implemented, would make it extremely inconvenient to use existing centralised exchanges since users wouldn’t be able to store their crypto on them?

If so, it would suggest non custodial trading similar to what Nash is offering would be a superior service to existing centralised exchanges.

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#3

This is an interesting development.
Hopefully, the Nash team can leverage on this policy by making presentations to the Japanese and other governments to show how their products are safeguarding crypto users and investors.

#4

I think that is why the independent security audit that is being carried out on the Nash platform is so crucial.

#5

These kind of regulations would definitely favor platforms like Nash; curious if Nash has Japanese approval for trading and if there is a JPY gateway (noticed Japan is not on the referral banned list).

As a bonus piece of info, I found some additional information on more companies being onboarded to crypto:

1. Rakuten , one of the largest e-commerce platforms in the world, was awarded a cryptocurrency exchange operating permit from the regulatory Financial Services Agency (FSA). The company last year bought out an existing platform named Everybody’s Bitcoin for around USD 2.5 million, and has been waiting for FSA approval after rebranding the company Rakuten Wallet .

Rakuten says it is hoping to begin trading as early as next week after “restructuring the [exchange’s] management system, formulating a business improvement plan and strengthening internal control systems,” in line with an FSA business improvement order issued to Everybody’s Bitcoin last year.

2. And the positive news kept rolling in. Yahoo Japan will also be making its crypto exchange debut in the coming weeks. The company last year bought a 40% stake in the FSA-licensed Bit Arg exchange, which has now been renamed Taotao . The exchange has announced that it has now begun accepting accounts, and will be open for business in May.

3. Money Partners Group , a foreign exchange trading platform, has struck a deal with the second largest securities brokerage in Japan, Daiwa Securities . The duo hope to launch blockchain technology-related operations, including an exchange.

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