La FSA met en garde les jeunes japonais contre les risques liés aux investissements cryptographiques
The Japanese regulator FSA has decided to once again warn people about the risks associated with investing in cryptocurrencies. But this time he focused his attention on the youth.
Earlier, the Japanese authorities voted in favor of amendments to the country's Civil Code, one of which was the adjustment of the age of majority, reducing it from 20 to 18 years. It will start operating on April 1, 2022. Then those who have turned 18 years old will be able to independently purchase digital currencies. This fact is of great concern to the FSA.
One of the key points outlined by the regulator was the fundamental difference between cryptocurrencies and traditional money. According to them, the value of the former is not guaranteed by anyone, while the issuing countries are responsible for fiat. This was followed by the standard warning that digital currencies are volatile, so there is a risk of significant losses.
Regulators have also added a few words about hackers capable of breaking into cryptocurrency wallets and stealing funds straight from crypto exchanges. The FSA stressed that there is no fund in Japan that would compensate depositors for their cryptocurrency losses.
The FSA said that young people will be able to contact one of the helplines created for those who find it difficult to understand how the new financial market works and those who have experienced psychological trauma due to losses on one of the cryptocurrency trading platforms.
It's funny that despite the decreasing age of "majority" and the opportunity to buy some bitcoins, young people under 20 are still prohibited from buying beer. Other “preferences” for 18-year-olds include buying a car, getting married, renting real estate, and taking out loans.