Japanese regulator allows 11 companies to conduct cryptocurrency exchange activities
The Japanese Financial Services Agency (FSA) has approved 11 companies as cryptocurrency exchange operators. Writes about it Reuters.In April, the Japanese government recognized bitcoin as legal tender and required all cryptocurrency exchange operators to be officially registered..
The regulator presented a number of requirements for such operators, which included the creation of a reliable computer network, the isolation of customer accounts and the identification of customer identities..
Trading volumes in Bitcoin and other cryptocurrencies in Japan have increased significantly this year, helped by the creation of an appropriate regulatory framework. Tokyo intends to strike a balance between investor protection measures and measures to support fintech innovation in the country with new rules, an FSA official said..
Officials said this month that they are not going to ban ICOs, although such proposals appear from time to time..
Thus, Japan's policy in this area differs markedly from the policy of its neighbors, China and South Korea, where IPO campaigns were banned..
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