Japanese crypto sector becomes self-regulated

Posted 24 October, 2018

The Japan Virtual Currency Exchange Association (JVCEA) has officially become a certified fund settlement association.

According to the local media, the corresponding status was given by Japan's Financial Services Agency (FSA). With this decision, FSA enabled a self-regulatory financial body to develop regulation for the local crypto sector. The association can now develop guidelines for local trading platforms, in particular, measures to prevent insider trading, money laundering activities and asset protection.

The Japan Virtual Currency Exchange Association (JVCEA) is the result of the cooperation of 16 licensed Japan-based crypto exchanges. FSA officially registered the authority in April, while this August it put forward a proposal to set up a self-regulatory unit, so the association may become able to determine rules for the local crypto sector and stricter business requirements.

After getting this status, JVCEA stated that its rules and guidelines might come into force immediately.

"With the acquisition of the accreditation, we will continue to make further efforts to create an industry that you can trust from everyone who uses virtual currency with exchanges," according to the statement.

Notably, the guidelines represent a 100-page draft document, which covers a proposed ban on anonymous coins and insider trading as well as reduction of 4-to-1 limit on marginal trading.

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24 October, 2018 18:18

← South Korean financial authority notes risks of crypto fund investments

On Wednesday, South Korea's Financial Services Commission asked traders to be careful with investments in crypto funds. Crypto funds are said to be very similar to share investment fund, and thus investors can be wrong when considering them as the legal investment tools guided and regulated by Capital Markets Act effective in South Korea. Specifically, funds that lure investors must pass FSC certification, whereas funds dealing with cryptos are said not to have the corresponding registration, which means that they break the current law. In this situation, it is expected that the regulator will develop regulation for crypto funds following the consulting with the corresponding bodies. FSC aims to protect players from the losses that can be suffered from such activities.

South Korean financial authority notes risks of crypto fund investments

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24 October, 2018 13:57

SEC can change ETF-fund game on and on, VanEck points out →

The US Securities and Exchange Commission has released the memorandum of the meeting with representatives of SolidX, VanEck, and CBOE regarding ETF-fund. During the meeting held on October 9, VanEck submitted all required documents that may dispel SEC doubts that prevented it from granting the ETF license. The regulator postponed consideration of VanEck's application this summer. The company listed five factors which may prove that they are ready for the ETF. It is worth mentioning that SEC commissioner mentioned during the recent media interview that SEC has not determined clear stance towards this product.

SEC can change ETF-fund game on and on, VanEck points out
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