Japan Finance Office Approves Coincheck’s Bitcoin Exchange License


nnIn the event of the legalization of the Japanese royal currency payment and the promulgation of section 63-3 of the fund settlement method, the Japanese exchange must obtain a virtual currency trading license. Recently, the Japan Financial Services Department approved the Coincheck encryption currency trading platform registration application. Behind it is Japan’s domestic currency rose and the government officials to change the attitude of Bitcoin.n
nTranslation: Annie_Xun
The Financial Services Agency (FSA) has approved the Coincheck encrypted currency trading platform registration application.n
On September 13, Coincheck, a Japanese counterparty trading platform and payment processor, announced that the company had obtained a “virtual currency exchange” license. Prior to the registration of the exchange, Japan promulgated the Fund Results 63-3 (Article 63-3). On April 1, 2017, after the settlement of Bitcoin’s legalization, all exchanges in Japan must obtain permission from the Ministry of Finance and FSA to carry out the virtual currency trading business.n
At the time of the enactment of the law, Coincheck said he was pleased to see the recognition of Japanese law, saying that “the newly promulgated royal laws and regulations cover a wide range of laws and regulations.” And all exchanges must obtain FSA licenses.n
“In order to make the deal safer, the encrypted currency must be subject to FSA regulation,” Coincheck said in a June blog.n
n”All exchanges and other companies that conduct virtual currency transactions will need to be registered with the FSA to start running, which will make Japan’s encrypted currency exchanges safer and more prudent.”n
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nWith the Japanese domestic bit coins rose, Coincheck scale continues to expandn
Japan often occupies the first place in the global bit currency trading volume. Over the past 24 hours, Coincheck handled 97,502 bit currency transactions. Announced in May that as long as the FSA approves, it will create an interest-bearing bit currency deposit account. In August, Coincheck launched a new investment sandbox with the goal of encrypting money start-ups and ICO-based institutions.n
After the collapse of Mt Gox, a new trading license for the Japanese trading platform, officials began to support the operation of the exchange. But Japan’s good news at the same time, China’s special currency trading platform was forced to close most of the business.n

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