The Japan Virtual Currency Exchange Association (JVCEA) reportedly put forward one more initiative for trading platforms. The authority suggests that exchanges may limit trading for certain users.
According to the available information, the Association has drafted measures under which crypto exchanges would have to set trading limits for a group of traders.
The Japan Virtual Currency Exchange Association stated that this initiative is aimed to protect traders with small assets from massive losses as well as problems with daily costs. However, more details, as well as the size of limits, are yet to be disclosed.
The proposed initiative is said to provide two options. Specifically, the first option covers a single limit for all traders with small assets. At the same time, with the second one, the limits may be determined case-by-case for every particular user amid a number of factors (investment experience, profit, asset value and age).
In addition, the Association suggests setting restrictions, under-age traders. Specifically, they will have to provide parental approval for such activities. These measures are said to fight against the illegal money laundering.
As it was reported earlier, the Japan Virtual Currency Exchange Association expressed plans to restrict marginal trading borrowings last week.