The Japan Security Token Offering Association (JSTOA) has reportedly introduced the public guidelines for regulations, regarding the method selected for separating customer assets and electronic record transfer rights.

Specifically, the organization has regarded the guidelines to the revisions of the country’s Financial Instruments and Exchange Act (FIEA), legally approved the Japanese House of Representatives, and will officially be in motion on the first of May. 

During a meeting with the participation from the Board of Directors and other employees, the association has established the laws for electronic record transfer rights, as well as how to manage customer assets, and others. 

A checking process for the management of separately held customer assets will be conducted once on a monthly basis, with licensed public accountants and audits. 

Furthermore, as an effort in limiting investment solicitation, the association is working towards the appearance of a more transparent definition of selling digital assets to elderly customers – the ones vulnerable to fraud – as well as guidelines for solicitation.