Japan tightens registration of new crypto trading platforms

Posted 03 September, 2018

Japan’s Financial Service Agency has reportedly tightened registration process for new trading platforms dealing with cryptocurrencies in terms of risk management issue.

For reference, registration of new exchanges in the country is now regulated by the Payment Services Act of April 2017, which is aimed at protecting crypto players.

For now, the regulator has announced new edition of the rules after adding about 400 items to be complied with during the registration, according to the available data. FSA stated that the revision of the effective rules was made to check the risk management measures at the trading platforms.

Besides, the new rules require submitting minutes of the board meeting and data about company shareholders to check them for participation in anti-social groups. Specifically, the regulator decided to take stricter measures for the registration of new crypto exchanges once inspection of the existing platforms had detected lack of internal control.

As FSA noted, they have received over 100 applications for registration.

It is worth mentioning that some Japanese crypto exchanges members of Japanese virtual currency exchanges filed an official request asking for launching self-regulated organization.

Previous story

03 September, 2018 14:02

← US dollar stays steady on persisting trade fears

The US dollar stays strong vs the majors being near the weekly peak on Monday. Protective assets faced boosted demand on persisting fears of the international trade wars and currency fluctuations. According to the available data, the US Dollar index moved up to 95.10. Amid the Labour Day in the USA, the trading is slow today.

US dollar stays steady on persisting trade fears

Next story

31 August, 2018 15:34

Line rolls out own cryptocurrency →

Japanese messenger – Line – has decided to develop and launch its own digital coin Link. The company also reportedly created a public blockchain Link Chain. The volume of Link tokens will amount to 1 billion, including 800 million will allocated for users and 200 million – for the company. The first block was reportedly recorded on August 23.

Line rolls out own cryptocurrency
Write a comment
Prove you’re not a bot + 19 = 24