Five other exchanges join the Association of Japanese self-regulation cryptocurrencies


Another five cryptocurrency grants have joined the Japan Virtual Currency Exchange Association (JVCEA), according to an official announcement of January 4 by the JVCEA.

The JVCEA is a self-regulatory body formed in April by 16 registered cryptographic exchanges that aims to create industry-level security standards for investors. In October, the Japanese financial regulator formally granted self-regulatory status to the JVCEA to oversee the encrypted sector.

The body, which was partly implemented as an answer to CoinPeck's $ 534 million compromise, published a series of regulatory guidelines in June 2018, including a ban on trade in privileged information and a ban on trade in currency-oriented currencies. privacy.

The five new JVCEA Type II members are Coincheck, Everyone & # 39; s Bitcoin, Lastroots Inc., LVC Corporation and Coinage Corporation. The type II classification indicates that the company is about to apply for the registration of a virtual currency operator, notes Cointelegraph Japan.

LVC is a subsidiary of LINE, whose native BITBOX encryption has launched its LINK token in mid-October.

Cointelegraph Japan reports that JVCEA currently only recruits Type II members, but will soon add a Type II classification for companies that manage virtual currency-related services such as portfolio resellers.

During the summer, the exchange announced that it was considering both a trading margin limit and maximum trade restrictions to be placed on some of their customers.

In mid-December 2018, local media reported that Coincheck had been approved for a cryptocurrency operating license by the country's financial regulator, but Coincheck's new operator, Monex, has not confirmed the announcement.

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