A minister of Japan denies any ties with a suspicious cryptocurrency firm


by | 21st July 2018 | 0 comments

According to a report published in Asahi Shimbun, Japan’s internal affairs minister Seiko Noda has refused to have any interest in cryptocurrency companies under an investigation and interfacing in that investigation. In this case of trying to influencing a government investigation, Noda could be accused.

Noda accepts that one of her assistants was present at the meeting held on Jan 30 in which a Financial Services Agency representative had explained the agencies position on regulations governing funds raised by issuing cryptocurrencies and other topics.

FSA Warns Company

A source stated that the unnamed company was warned on Jan. 12 by the FSA that they were suspected to be engaged in cryptocurrency exchanges, which they were not registered to do, and that such an action is a violation towards payment services law. In October the company offered their own cryptocurrencies.

A deadline for answers has been given to the company by the FSA after which the matter would be taken over by the investigators.

According to a document by Asahi Shimbun who obtained information from certain sources, the FSA was contacted by Noda’s office several days after the warning. The office wanted to find out what the agency was doing with respect to the company.

Given that the company had consulted with Noda’s office regarding the issue,  it said that it would assign a company representative to attend the briefing.

Sources state that the person requesting the meeting was removed from the document, who was supposedly one of Noda’s assistant.

The meeting was continued after the investigation. The agency advised the company against the selling of the cryptocurrency.

Noda: I Wasn’t aware of the Warning

Noda made sure to inform Asahi Shimbun that she had no idea of the agency’s warning to the company, through a statement given on July 19.

Noda explained that the overall purpose of the meeting was to study and understand cryptocurrency exchanges, she further stated that the requested briefing did not constitute exerting pressure.




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