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Morningstar Japan Starts Ratings Business for Cryptocurrencies and ICOs


The Japanese subsidiary of Morningstar has launched a new business to provide ratings of digital currencies and initial coin offerings (ICOs). While there is no law in Japan specifically targeting ICOs, their tokens can be subject to various laws such as securities laws and consumer contract law.

Also read: Putin Tells Central Bank Not to Create Unnecessary Barriers to Cryptocurrencies

Morningstar Japan’s Crypto and ICO Ratings

The Tokyo-based financial information provider, Morningstar Japan, announced on Wednesday the start of its new ratings business for digital currencies and ICOs.

Morningstar Japan is a subsidiary of the Chicago-based Morningstar Inc. The subsidiary develops and market products and services customized for the Japanese market. Its shares are traded on the Tokyo Stock Exchange. Its parent company provides a few ratings services including the “Sustainability Ratings for Funds” which was launched last year. The ratings help investors evaluate over 35,000 mutual funds and exchange-traded funds (ETFs) globally, worth $27 trillion in assets under management.

The company explained that there is no ICO regulation in Japan and “investor protection is inadequate.” In addition, when investing in digital currencies, investors often make investment decisions “with only a small amount of information and biased information.” With whitepapers issued by ICO companies, “investors cannot easily judge the accuracy and authenticity of the item,” Morningstar claimed.

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