Crypto News From Japan: Nov. 2-9

Here is the past week of cryptocurrency and blockchain news in review, as originally reported by Cointelegraph Japan.

FSA confirms ban on cryptocurrency investment trustsThe Japanese financial regulator, the Financial Services Agency, has solidified its policy of banning investment trusts that invest in cryptocurrencies.

At the end of September the FSA announced a draft guideline, in which it stated that the composition and sale of investment trusts that invest in cryptocurrencies are "Not appropriate".

Although the supervisory guideline is not a law, the FSA reportedly intends to restrict excessive funds from flowing into cryptocurrencies, aiming to "regulate before commercialization.

Kenji Fujimaki, a former member of the House of Councilors and economic critic, said that the cryptocurrency industry's call for a change from comprehensive taxation of 55% to separate taxation of 20% is not necessarily delayed.

Coincheck starts automated cryptocurrency accumulation serviceJapanese cryptocurrency exchange Coincheck announced that it had begun offering Coincheck Tsumate, an automated cryptocurrency accumulation service, also known as the dollar-cost averaging method.

Using the DCA method means that a customer purchases a fixed dollar amount of a cryptocurrency, such as Bitcoin, no matter what the price happens to be, at a certain date each month.

Security token organization composed of more than 20 companies launches in JapanMore than 20 companies including Mitsubishi UFJ Financial Group, NTT, KDDI and the Mitsubishi Corporation have launched a consortium that aims to raise funds with security tokens.

Coincheck denies any link to Stellar's massive recent token burnCointelegraph Japan reported on Nov. 8 that Coincheck has denied any link between Stellar Lumens' massive token burn conducted by the Stellar Development Foundation and Coincheck's announcement that the exchange is about to list Stellar.

There has been a great deal of speculation that the Japanese crypto exchange Coincheck was aware of Stellar's 55 billion XLM token burn at the time they announced the XLM listing on its exchange.