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Japanese Minister Denies Links To Crypto Exchange Under Scrutiny

seikonoda july20

A Japanese Minister has denied links to an unregistered cryptocurrency exchange, which is under probe for allegedly violating the Japanese fund settlement law.

Japan's Financial Services Agency had warned the Tokyo-based company in January that it was suspected of violating the law on payment services by operating a cryptocurrency exchange as it was not registered to do so, Japanese media reported.

The company, the name of which has been kept confidential, began dealing in its own cryptocurrency in October 2017. In February, FSA ordered it to cease cryptocurrency trading.

An allegation surfaced later that FSA gave a briefing about the investigation to Seiko Noda, Japan's Minister for Internal Affairs and Communications, in her office in the presence of the company's representative on January 30.

Noda was accused of exerting pressure on the government investigation.

She denied it in a press conference Thursday. The minister said the meeting was aimed at getting "an overall general account of cryptocurrency exchanges," and that she had "no vested interest in the company in question."

"Because there has never been any administrative ties between this company and my office, I believe there is no exerting pressure on the front of this government investigation," she told reporters.

Noda clarified that she was not present when the meeting was held in her office.

Noda, who is also Minister in charge of Women's Empowerment said she neither received any political contribution, nor made any investment with the company.

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