Topic: Japan’s new bitcoin exchange registration - Accepted - page 2. (Read 820 times)

China is doing a bad thing, fud.
and Japan holds large amounts of Bitcoin. 100% The Japanese government has legalized Bitcoin. China only has about 20% bitcoin, China wants to do master by spreading negative issues.
A dramatic move, and now bitcoin proves that China has failed.

Things will be more exciting now. Since many are countries are planning to enter the cryptocurrency, I think our market will be more active. Hope the more country will join the Bitcoin revolution.

Japan has never failed to surprise me and is continuing to fulfill my expectations toward to itself. From the very beginning, when Japan announced its acceptance of Bitcoin last April, I know that it will be the leading Asian country when it comes to the acceptance of Bitcoin. And now, a new exchange is registered. Japan just proved that despite of any other issue out there about bitcoin it will continue to support Bitcoin all the way.

One good news out of so many news from China. Hope to see more good news from Japan.

This only shows that bitcoin is going to be stronger, the japanese government for sure, already thought of ways on how to regulate bitcoin in their country, and as we all know, japanese are very proud people,  this only means they will not make any scam ICOs, like what china had done. This move by japan will also contribute to the growth in value of bitcoin, hopefullh those who bad mouth bitcoin will stop, since another superpower country is supporting bitcoin, and as we all know, those who had banned bitcoin, do lack knowledge and doesn't have the technological advancements that japan has, furthermore, this will only strengthen japan's power, and a shift.of power from west to east, seems inevitable, those who still seek knowledge from western gurus, should now think twice, they should also ask someone from the east, since this part if the world greatly accepts bitcoin. I just hope for better advancements in the future for bitcoin, and no more negativity will rise.

after the MtGox stuff, Japan has been really out of the game but they made up for all the lost time this year alone. things are looking up over there. the government is open to bitcoin and that is helping the adoption greatly. this is just one service out of many different ones in Japan. and yet so many people refuse to believe the revolution that is taking place inside Japan these days, starting this year.

It seems that japan is one of the country that are very supportive of crypto-currencies and it is surely a piece of good news for the crypto-currency community, bitcoin values have been dropping hard recently due to a lot of negative news from china, maybe this piece of news would help bitcoin price to rise again.

With several places in Europe trying so hard to be recognised as fintech hubs, in the end it's the usually agile Japan that sets the pace, all in the space of months. I met a Japanese millennial last week who told me that other than the desire to try and purge the bad memory of MtGox, there is a small minority of Japanese who also feel they owe a debt to Nakamoto to try and get Bitcoin the recognition it deserves in his second home. Of course, they know it's probably not even one person, and they know he was probably not even Japanese, but I suppose I get the fandom and attempts at homage.

It seems China is paving a new approach to crypto trade business,

(1) allow exchanges to trade on coin to coin bases;
(2) create new coin that is RMB equivalent in  a way similar to USDT;
(3) traders of crypto coins can only invest and withdraw through the new RMB coin.

This is more advance approach of inflation control and fraud -proof etc. of course, profits will also be taxed I guess.

decentralised is a great idea especially for criminals, as normal people would prefer to pay tax and get protection one way or another.

This just goes to show that Japan is willing to embrace new technologies and assets as long as it is regulated and certified by their own standards. They see nothing wrong about bitcoin, they accept it and regulate it so that nothing wrong could happen on their soil. Also, having another exchange could precent the next Gox if in case one of the major exchanges thought of doing the same. Overall, a good move for Japan, giving zero fucks about what happened in China.

It's a good news for Bitcoin and all Bitcoin trader.Because some things increase the price of popularity.

Coincheck’s application approved for Japan’s new bitcoin exchange registration

Popular Japan-based bitcoin exchange and payment company Coincheck announced a milestone today as it officially got its application certified in Japan for registration as digital currency exchange. Japan is set to implement its new regulation for exchanges at the end the month.

This comes after April’s changes to the country’s fund settlement law, which made bitcoin payments legal. Japan is now considered a leader in digital assets, helping to foster innovation in the country.

This accommodating regulatory apparatus comes just a few years after the largest bitcoin exchange at the time, Tokyo-based Mt. Gox, collapsed and along with it, millions of dollars of users, leaving a bad impression on the Japanese street of the cryptocurrency.

Times have now changed, especially with Japan now requiring insurance protection for all bitcoin exchanges, and regular checkups from the financial authorities to ensure nothing like Mt. Gox happens again in newly passed regulations.

Coincheck’s application was accepted as one of the well-known companies in the country, this was largely just a symbolic achievement for them. This won’t be the case for all companies looking to become registered and legal within Japan.  The Japanese Financial Services Agency (FSA) has received 50 exchange registration applications in August 2017 alone to be reviewed for compliance.

Some other major exchanges in the country include bitFlyer, Zaif, BitPoint, and other entrants from well known public companies, who will have no problem getting initially registered. It will be the smaller start-up operators whom this new law will really shut out in the name of safety and protection.

Regulation compliance and fund safety, and KYC laws are fundamental in the new exchange regulation. Exchanges must be ready and registered by the end of September 2017, as well as ensure that their users are fully protected to be inclined to a license. Exchanges are required to report risks of financial losses that factors like price volatility may cause, and to verify the identities of those who open accounts.

https://www.cryptoninjas.net/2017/09/13/coinchecks-application-approved-japans-new-bitcoin-exchange-registration/