On 19th July the news outlet Asahi Shimbun of Japan reported that the Japanese government, Internal Affairs minister Seiko Noda has denied her involvement in a government investigation of non-registered cryptocurrency exchange.
In early January’s, a Tokyo-based company has been suspected by the Financial Services Agency (FSA) for violating the law by operating non-registered cryptocurrency exchange. On request by the FSA a written response from the company, arguing that it “did not respond by the deadline given, it would report the matter to investigate authorities and take necessary step.
After issuing the warning from FSA, Noda’s office contacted with FSA, “asking for an explanation of what had happened” stated by The document obtained by the Asahi Shimbun.
The matter took a concern which ended up with a meeting in Noda’s office with FSA regarding the suspect company in the presence of the company’s representative. The Noda told in her statement that she never put any pressure on the FSA investigation, the purpose of the meeting was to get “an overall general account of cryptocurrency exchanges.”
Noda pointed that she did not present a the meeting by arguing that “obviously does not amount to exerting pressure and “no vested interest in the company in question” and the decision by her office to request the meeting for other reasons.
On 30th January an FSA official visited Noda’s office for the regulation of funds raising by issuing cryptocurrency to the company’s representative stated by Asahi Shimbun. A senior official at the FSA emphasized that Noda’s office request for a briefing could be recognized as pressure:
“A public servant will likely take it as pressure if an aide to a sitting Cabinet member calls for a meeting in which an employee of a company the agency is looking into is also present.”
Noda admitted her side at the meeting and commented on allegations by stating herself in a statement that I was not aware of the agency’s warning against the company, continuing……..“My aide and the employee of the company know each other. Since we received a request for details of the regulations concerning cryptocurrency exchanges, we arranged [for a meeting with the agency]. I was not aware of the agency’s warning against the company.”
The Japanese government made an announcement that, for the better preparing of the modern era and the agency to address regulatory, the FSA endure an organizational reshuffling, the newly created Strategy Development, and Management Bureau replaced the Inspection Bureau, it will develop a financial strategy policy and will issue addressing the digital cryptocurrencies market, Fintech, money laundering.