Provisional Translation

Q.

I would like to ask you about crypto-assets. Although I forget to check when the previous crypto-assets broker dealer was registered, yesterday two crypto-assets broker dealers including the DeCurret were newly registered. The DeCurret is a newly-registered broker dealer and Mr. Katsu, former administrative vice minister at the Minister of Finance of Japan, is one of its directors. So what is your expectations and impressions on this crypto-assets broker dealer in the troubled industry?

A.

I think thus far there have been at least two or three outflows of crypto-assets in the industry. How many times was it?

Q.

I believe it was twice.

A.

We have been conducting proper and strict review for the new registration of crypto-assets broker dealers while clarifying the registration requirements and the review processes in the light of the lessons from the results of our on-site inspections on broker dealers as well as from the outflows of crypto-assets. While I think block-chain is promising technology, it will take quite some time before it is firmly established. A variety of people will become involved with it, not all of them good, so some could misuse this technology. In order to protect the investors, it is essential for us to conduct the proper and strict review to check whether a company fulfill the registration requirements or not. As a results, two crypto-assets broker dealers were newly registered yesterday. We will continue to conduct proper monitoring on registered crypto-assets broker dealers so that such kind of technology will be developed, but I think that at the moment it is still on the way.