Japanese Financial Regulator Receives 190 Cryptocurrency Exchange License Applications

The Japanese Financial Services Agency (FSA) received 190 cryptocurrency exchange license applications, an unnamed FSA staff member told Cointelegraph Japan on Dec. 28.

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.

Those improvement orders were mainly focused on setting higher standards for customer protection and anti-money-laundering measures. The FSA