Japan’s Bitcoin exchanges united in a self-regulatory organization

Home » ALTCOINS » Japan’s Bitcoin exchanges united in a self-regulatory organization
Japan’s Bitcoin exchanges united in a self-regulatory organization
2018-10-24 in ALTCOINS

The Financial Services Agency of Japan (FSA) officially granted the Japan Association of Virtual Currency Exchanges (JVCEA) the status of a “certified financial billing business association”.

Thus, the financial regulator gave the Association the authority to develop rules for the local cryptocurrency industry, including measures to prevent insider trading, money laundering and asset protection.

JVCEA was formed by 16 of the country’s leading exchanges in March of this year, receiving an official FSA registration in April. In August, she submitted an application with the proposal to form a self-regulatory organization, which would allow her to establish self-regulation rules for the local cryptocurrency industry, as well as to develop more stringent standards for doing business.

Now the association has confirmed the receipt of a positive decision by the regulator, noting that the rules it has developed come into force immediately.

“After receiving accreditation, we will continue to work on the formation of an industry where users of virtual currencies can trust our members,” – was outlined in the statement.

The JVCEA industry guide took 100 pages. In addition to the ban on insider trading, it includes restrictions on working with anonymous cryptocurrencies and on limiting up to x4 leverage in margin trading

Note that the Japanese authorities continue to prepare their own measures to regulate the industry after two large-scale incidents with the Coincheck and Zaif exchanges.

Tags:, ,
  • bitcoinBitcoin$5,081.06
  • ethereumEthereum$165.30
  • rippleXRP$0.328778
  • tetherTether$1.00
  • eosEOS$5.36
  • stellarStellar$0.115481
  • litecoinLitecoin$79.74
  • cardanoCardano$0.084853
  • tronTRON$0.026713
  • moneroMonero$68.37
  • iotaIOTA$0.319989
  • nemNEM$0.066046
  • dashDash$121.08
  • neoNEO$11.40
What is Cryptocurrency? How to Use, the Future of Crypto, the History of Bitcoin
Cryptocurrency market is actively developing and expanding. This relatively new industry is causing a lot of questions and attracting a huge number of investors, businessmen and ordinary people. “What is the future of cryptocurrency?”, “How to choose cryptocurrency exchange?”, “How to sell Bitcoins?” “What about cryptocurrency mining”? Millions of people read cryptocurrency news everyday and […]
2019-04-08 0 48
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 46
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 45
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 43
© 2017–2018