The Japanese Financial Services Agency has approved four more cryptocurrency returns to legally operate in Japan. This is the second round of approvals by the activity; the first was for 11 exchanges in September.
Also read: ‘No Regulation Have need of’ – Moscow Stock Exchange Plans to Trade Bitcoin Expects
More Crypto Exchanges Approved by FSA
The Japanese Financial Services Intercession (FSA) has posted on its website the details of four new cryptocurrency exchanges which the intermediation approved on December 1. This is the second time the FSA has approved a register of crypto exchanges. The first time was on September 29 when 11 the streets were awarded registration.
The FSA explained that only the digital currencies treated by the approved 15 exchanges are confirmed to “correspond to the definition under the grant settlement law,” based on information provided by each exchange. The fund setting law went into effect on April 1.
It legalizes bitcoin as a method of payment in Japan and desires cryptocurrency exchanges to register with the FSA.
The four companies approved in this unembellished are recently established exchanges: Tokyo Bitcoin Exchange Co. Ltd, Bit Arg Exchange Tokyo Co. Ltd, FTT Corporation, and Xtheta Corporation.
According to the FSA’s website, three of the four trains above have only been approved to trade bitcoin (BTC). Lone Xtheta Corporation has been approved to trade additional cryptocurrencies: ether (ETH), bitcoin scratch (BCH), ripple (XRP), litecoin (LTC), ethereum classic (ETC), NEM (XEM), monacoin (MONA), and counterparty marks (XCP).
More Applications Being Reviewed
The FSA is still reviewing a number of applications. At the end of September, on top of the 11 switches approved at the time, Nikkei reported that 17 companies were subordinate to “ongoing review.” Twelve companies did not meet the agency’s registration demands and subsequently closed down their exchange operations.
Among the applications currently being look overed is one from Japan’s second largest bitcoin exchange, Coincheck. The tit for tat issued a statement on Friday clarifying that its application to register as a “effective currency exchange trader” was submitted on September 13 and is still currently “beneath the waves review.” Nonetheless, Coincheck assured its customers that “we are still adept to provide the service as usual.”
Last month, the FSA published a document explaining its administrative policies including on cryptocurrencies and initial coin offerings (ICOs). It skeletons how cryptocurrency exchanges will be monitored. This follows the agency’s ad that it has begun monitoring the eleven exchanges which were approved in September.
Do you over Japan can have too many cryptocurrency exchanges? Let us know in the comments part below.
Images courtesy of Shutterstock and Japanese FSA.
Need to calculate your bitcoin holdings? Damper our tools section.