Japan Licenses 11 Bitcoin Exchanges

Japan’s Financial Services Agency (FSA) has granted operating licenses to 11 bitcoin exchanges.

In today’s announcement, the regulator has approved the previous amendment to the law on payment services. The new law, enacted in April, defined Bitcoin as a legal payment instrument and set the security guidelines for cryptocurrency exchanges.

A solid cybersecurity structure for licensing, protection of customer assets and operational requirements such as user authentication were introduced.

While 17 applications are still in the evaluation process 12 companies were closed due to new regulations.

Quoine -license, one of the local exchanges One of the 11 companies that received a license – said that they will work with regulators and to develop the cryptocurrency industry in a healthy way in Japan and on a global scale’.

According to the statement made by the FSA official this week, the institution encourage.

Japan is a very progressive country in crypto regulation. The statesmen attribute the reason for this to the Mt Gox stock market, which collapsed in 2014 and caused millions of dollars in losses.

Different news continues to come as cryptocurrencies are subject to laws. Earlier this month, China banned token sales and ICOs, some exchanges announced that they would stop local trading.

Another news from South Korea today is that local ICOs will be banned and exchanges will be banned. He stated that more strict control will come.

Join our Telegram channel to be informed about all developments and shares!
ICO named Santiment Reaches $10 Million Target In Less Than 45 Seconds