Japan's Financial Services Agency is concerned that dealers may be steering users toward high-spread sales desks, plans talks with industry on UI design

Odaily reports: At an exchange of views held on July 15 with the Japan Cryptocurrency Business Association, Japan's Financial Services Agency stated that dealers offering both "sales desk" and "exchange" services may be steering users toward the more profitable sales desk transactions.

Under the sales desk model, the platform acts as the counterparty and earns the spread; under the exchange model, users trade with one another and the platform only charges a fee. Citing the best interest of customers obligation that took effect in November 2024, the Financial Services Agency said it will continue talks with the industry regarding the UI traffic-routing design of the two types of services and self-regulatory rules.