The cryptocurrency industry in Japan is granted a self-regulatory status

The Japanese Virtual Currency Exchange Association (JVCEA) has received permission from the Japanese Financial Services Agency (FSA) to police and sanction virtual exchanges for any misconduct or violation. In this way, the JVCEA is permitted to make rules on safeguarding assets, preventing possible money laundering, setting rules on identification and others.JVCEA is known for policies through tougher than existing financial regulatory frameworks.

The FSA granted 16 permissions for the virtual currency exchanges in Japan, but not the single permision in 2018. Read FSA’s statement here. (Japanese)

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