Today, Tokyo-based Monex Inc launched the Japan Security Token Offering (STO) Association along with SBI Securities, kabu.com Securities, Daiwa Securities, Nomura Securities and Rakuten Securities. The Association will mainly work to develop self-regulation around STOs to shape the digital fund-raising model in the country.
The organization will be chaired by Yoshitaka Kitao, the chairman of SBI Securities, with representatives from the other bfirms in various management positions. Monex is a subsidiary of Japan’s Monex Group, which also owns the Japanese cryptocurrency exchange Coincheck.
Japan has been at the forefront of adopting cryptocurrencies and recognizes Bitcoin and other digital currencies as legal property under the Payment Services Act.
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