Five more cryptocurrency exchanges have joined Japan’s self-regulatory crypto exchange body.
The JVCEA is a self-regulatory body formed in April by 16 registered crypto exchanges that aims to create industry-wide investor safety standards. In October, Japan’s financial regulator formally granted self-regulatory status to the JVCEA to oversee the crypto sector.
The body, made in part as a response to the January 2018 $534 million hack of crypto exchange Coincheck, had released a set of regulatory guidelines in June, including a ban on insider trading and prohibition against the trading of privacy-oriented coins.
The five new Type II members of JVCEA are Coincheck, Everyone’s Bitcoin, Lastroots Inc., LVC Corporation and Coinage Corporation. The Type II classification means that the business is in the process of applying for virtual currency trader registration, Cointelegraph Japan notes.
Cointelegraph Japan reports that the JVCEA is currently only recruiting Type II members, but it will soon add a Type II classification for companies that handle virtual currency-related services like wallet dealers.
In mid-December 2018, local media reported the Coincheck had been approved for a crypto exchange operating license by the country’s financial regulator, but Coincheck’s new operator Monex did not confirm the announcement.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.