The media should abandon the term “virtual currencies” and use the concept of “cryptoactives” instead. About this during a recent press conference, said Deputy Prime Minister and concurrently Minister of Finance of Japan Taro Aso, reports Cointelegraph .

Recently, the Japanese authorities approved a number of amendments to the laws on payment services and financial instruments, legally fixing the name “cryptocurrency assets”.

“Although I am sure that the blockchain is a fairly promising technology, it will take a long time before it is firmly established. Participants in this process will be a variety of people, but not all of them will use the technology for the benefit. In order to protect investors, it is important for us to keep a close eye on companies and to check whether they comply with registration requirements. So, as a result, two suppliers of cryptoactives were recently registered, ”Aso said.

In particular, we are talking about Rakuten Wallet and Decurret. The companies were officially registered by the Financial Services Agency as brokers of cryptoactive assets.

At the Taro Aso press conference, topical issues related to the regulation of the industry were also raised, including unscheduled checks of local cryptobirth by the Financial Services Agency.

Recall, recently in the media there was information that the Japanese authorities would oblige cryptocurrency exchanges to strengthen the security of cold stores.

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