Japanese Financial Regulator Receives 190 Cryptocurrency Exchange License Applications
The Japanese Financial Services Agency has received 190 cryptocurrency exchange license applications.
The FSA has given the local crypto industry self-regulatory status, certifying the Japanese Virtual Currency Exchange Association (JVCEA) to oversee the space. The JVCEA is now expected to develop anti-money-laundering (AML) policy and providing guidelines to crypto exchanges.
As Cointelegraph recently reported, such a license was recently granted to cryptocurrency exchange Coincheck. Following a hack at the exchange in January, it received two business improvement orders from the FSA.