The FSA again approved the registration of four crypto currency exchanges

nRunaway Comment: The Japan Financial Services Agency (FSA) approved the legal operation of 11 crypto currency exchanges in Japan in September, attracting the attention of all circles. At the time, the FSA was reviewing more applications for registrations from the exchange, and finally, the agency recently published a list of four other approved exchanges. From this process, Japan’s cryptocurrency market seems to be developing in a healthy and orderly manner.n
nTranslation: Inan
More cryptocurrency exchange gets FSA approvaln
The Japan Financial Services Agency (FSA) posted on its website details of four new crypto-currency exchanges the agency approved on December 1. This is the second batch of FSA-approved cryptocurrency exchange listings. The first batch was announced on September 29, when 11 exchanges were approved and successfully registered.n

The FSA explained that according to the information provided by each exchange, only the digital currencies approved for the 15 exchanges can be recognized as “digital currencies” that meet the definition of “fund settlement”. The Money Clearance Act came into force on April 1 this year and stipulates that Bitcoin is a legal payment method in Japan and requires encrypted currency exchanges to register with the FSA.n
The four approved exchanges were recently established, namely Tokyo Bitcoin Exchange Co. Ltd, Bit Arg Exchange Tokyo Co. Ltd, FTT Corporation and Xtheta Corporation.n
According to the FSA website, only three of the four companies are allowed to trade bitcoin. Only Xtheta is approved for trading in a variety of cryptocurrencies including ETH, BCH, XRP, LTC, ETC, XEM ), MONA and the contract currency (XCP).n

More applications are pending reviewn
FSA is still reviewing some applications. According to the Nikkei, at the end of September, in addition to the 11 exchanges that were approved at the time, 17 more were undergoing “continuous reviews.” Twelve of these companies did not meet FSA registration requirements and subsequently closed the exchange.n
Currently under review also includes Japan’s second-largest bitcoin exchange Coincheck’s application. The exchange said in a statement last Friday that its application for registration as a “virtual currency exchange trader” was submitted on September 13 and is still “under review.” However, Coincheck also assures its clients that “we are still able to provide the service as usual.”n
Last month, the FSA released a paper outlining its administrative policies on matters such as currency encryption and ICO. This document outlines how to monitor encrypted currency exchanges. Earlier, the agency announced that it has started monitoring the 11 exchanges approved in September.n

Leave a Reply

Your email address will not be published. Required fields are marked *