The Financial Services Agency (FSA) on Wednesday approved the Japan Virtual Currency Exchange Association (JVCEA), a body comprised of all 16 licensed domestic cryptocurrency exchanges, to become a ‘certified fund settlement business association.’
In doing so, the regulator has bestowed the industry body with the means to create guidelines for domestic exchanges including strict measures to curb insider trading and money laundering while implementing security standards to safeguard customer assets.
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The JVCEA has reportedly drawn up a 100-page self-regulatory draft with rules including a proposal a complete ban on insider trading and privacy coins like Monero and Dash from licensed exchanges. The association has also proposed a 4-to-1 limit on margin trading with cryptocurrencies, restricting the amount of funds investors can borrow on their original deposit.
https://www.ccn.com/breaking-japan-approves-self-regulation-for-cryptocurrency-industry/
https://www.btc-echo.de/japan-ueberlaesst-bitcoin-industrie-sich-selbst/
Muss ich gestehen, ziemlich interessante Entwicklung! Hab damit eigentlich nicht gerechnet!