Katsuya talks about Quoine, Japan’s evolving regulatory atmosphere, and democratizing fund raising.
At the first CoinGeek Conference held May 18 at the Four Seasons Hotel in Hong Kong, Katsuya Konno, CFO at Quoine, presented their products and explained how the industry is doing in Japan.
Quoine is the first global cryptocurrency firm in the world to be officially licensed by the Japan Financial Services Agency (FSA), and the firm has a line of supporting products and services for cryptocurrencies and blockchain projects. To date, they have three major products: Quoinex, Qryptos, and Liquid.
The FSA has implemented certain rules and regulations for cryptocurrency exchanges in the country, which Katsuya says Singapore follows. Apart from KYC/AML compliance, exchanges are now required to register with the FSA and have to meet a minimum capital requirement. They are also obliged to keep customer funds separate from company assets, and must submit themselves to independent audits. According to Katsuya, Quoine intends to comply with all of these regulations.
Speaking about token sales, Katsuya says the world is moving into an age where fund raising is democratized, which matches their statement in their website. “Democratization of finance has begun,” they wrote. “The power is in everyone’s hands.”
Watch his presentation in the video below.
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