The Japanese authorities believe control over the digital currency market needs to be tightened at global level.
Moreover, the work of crypto companies can be regulated using the same mechanism that applies to the banking sector.
According to the country’s authorities, developed countries have been able to develop a system of effective control over the traditional finance market, and now it is necessary to apply it to digital assets as well.
Global crypto regulation should be tough, as only in this case companies will be able to ensure the safety of investors and increase the transparency of transactions with tokens.
The collapse of the FTX exchange showed that the control over the industry, which is currently applied, is not effective enough.