Approved Crypto Exchanges Have Formed Self-Regulatory Group in Japan

qyn0

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Quote from: warrior333 on April 15, 2018, 03:15:40 PM

This is another attempt to regulate the cryptocurrency market. You think that's good? Why would someone have to define the rules? I am sure that this decision will finally close the Japanese market for foreign exchanges. I'm expecting a big development of European offshore areas. They will be the engine of bitcoin economy development.

I think the attempt to regulate the cryptocurrency market is a good thing! The cryptocurrency market is in constant flux, regulators worldwide are grappling with ways to control trading, and traditional banking systems are far from isolated from the global phenomenon.

Regulators are not just concerned with the blurring lines between trades of traditional legal tender and cryptocurrency, but also the outpouring of investment into ICOs, alt coins, and funds away from IPOs and traditional investments.

ManaMan

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Quote from: warrior333 on April 15, 2018, 03:15:40 PM

This is another attempt to regulate the cryptocurrency market. You think that's good? Why would someone have to define the rules? I am sure that this decision will finally close the Japanese market for foreign exchanges. I'm expecting a big development of European offshore areas. They will be the engine of bitcoin economy development.

You can't expect governments from big countries not to try to create the regulation in this field. Specially since many people are not reporting their income and thus avoid tax. If they see the opportunity to accumulate more money why not. Some people are even septic until this field is regulated. But still they can't regulate it in depth

warrior333

sr. member

Activity: 406

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This is another attempt to regulate the cryptocurrency market. You think that's good? Why would someone have to define the rules? I am sure that this decision will finally close the Japanese market for foreign exchanges. I'm expecting a big development of European offshore areas. They will be the engine of bitcoin economy development.

qyn0

newbie

Activity: 14

Merit: 0

A new association has been registered in Japan consisting of 16 government-approved cryptocurrency exchanges. The group will focus on establishing self-regulatory rules and will have the authority to investigate and sanction members that do not comply with self-regulation.

New Japanese Crypto Association
A new cryptocurrency organization has been registered with the Japanese Financial Services Agency (FSA), consisting of 16 crypto exchanges that have been approved by the agency, according to local media.

16 Government-Approved Crypto Exchanges Have Formed Self-Regulatory Group in JapanThe Japan Virtual Currency Exchange Association recently held a general meeting, during which a director was chosen, Jiji Press reported.

The group plans to “elect Taizen Okuyama, President of Money Partners as Chairman” at the next Board of Directors meeting which will be held on April 23. The association will be formally launched on that date.

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