Softbank’s telecoms arm is set to become the latest member of the Japanese Security Token Association.
Softbank Corp, the telecommunications arm of Japanese conglomerate Softbank Group, has confirmed its membership of the Japanese Security Token Association.
The company now joins other firms such as Mitsui Trust and Qunie, the consulting subsidiary of NTT Data, as members of the crypto advocacy body.
The JSTA also includes crypto and blockchain member firms such as security token platform TokenSoft and Japan’s largest cryptocurrency trading service BitFlyer.
The association is part of a group of advocacy and self-regulatory bodies that exist within the Japanese cryptocurrency and blockchain space.
In April 2020, Japan’s Financial Services Agency certified both the Japan Security Token Association and the Japan Virtual Currency Exchange Business Association, or JVCEA, as recognized Financial Instruments and Exchange Associations.
As part of the process, the JVCEA was renamed the Japan Crypto Asset Trading Business Association.
These self-regulatory organizations routinely work with the FSA to firm up Japan’s cryptocurrency regulations.