An anonymous Japanese Financial Services Agency (FSA) staff member told Cointelegraph Japan on Dec. 28 that the FSA has received 190 cryptocurrency exchange license applications.
Japanese Financial Services Agency ( The FSA has given the local cryptocurrency industry a self-regulated position by authorizing the Japanese Cryptocurrency Exchange Association (JVCEA) to oversee the cryptocurrency space. The Japanese Cryptocurrency Exchange Association is now expected to develop anti-money laundering (AML) policy and guide cryptocurrency exchanges.
Such a license was recently announced by cryptocurrency exchange Coincheck, as Cointelegraph reported recently. was given to. Following the exchange’s hack in January, the exchange received two business improvement orders from the Japanese Financial Services Agency (FSA).
These improvement orders mainly focus on establishing higher standards for customer protection and anti-money laundering measures.. In March, the Japanese Financial Services Agency (FSA) sent “penalty notices” to seven crypto exchanges. He declared that he wanted. In addition, the same official also assured that the agency has no intentions to hinder the development of the crypto industry.
As the cryptocurrency and blockchain industry continues to grow in Japan, so does the Japanese Financial Services Agency (FSA).. In July, the agency underwent an overhaul to better handle fintech-related areas, including cryptocurrencies.
The Department of Policy and Markets will replace the Department of Planning and Coordination and will accelerate the rapid growth of the fintech sector.
After the legislation required to report suspicious transactions in cryptocurrency trading, the Japan National Police Agency (NPA) notes a large increase in such reports.. According to the NPA, there are 5944 such reports between January and October.