Japan FSA Warns CryptoPawn Operator BitHills Over Unregistered Lending
Summary
- Japan's Financial Services Agency said it had issued a warning to CryptoPawn, which offers yen loans backed by digital assets, over unregistered operations.
- It said BitHills, the operator of CryptoPawn, was warned for engaging in moneylending without separate authorization.
- Questions have been raised over possible links between IZAKA-YA, a digital-asset service embroiled in a recent withdrawal halt controversy, and CryptoPawn, though no connection between their actual operators has been confirmed.
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Japan's Financial Services Agency has issued a warning to CryptoPawn, a service that lends Japanese yen against digital assets, over unregistered lending operations.
Nada News reported on September 11 that the agency warned BitHills, the operator of CryptoPawn, for conducting moneylending business without separate authorization.
CryptoPawn allows users to deposit digital assets including Bitcoin, Ether and stablecoins as collateral to borrow Japanese yen.
Questions have also surfaced over possible links between CryptoPawn and IZAKA-YA, a digital-asset service that recently came under scrutiny after halting withdrawals. CryptoPawn had used its official blog to explain how to sign up for IZAKA-YA, make deposits and use its lending service.
It has not been confirmed, however, whether the two services are actually operated by related entities.
Uk Jin
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