Japanese regulator approves self-regulatory body for the cryptocurrency industry

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Bitria “news” Japan regulator approves self-regulatory body for the cryptocurrency industry

Financial regulator of Japan FSA gave permission of the Association of crypto-currency exchanges (JVCEA) the right to regulate onsite industry. The Association includes all 16 licensed Japanese kryptomere, according to CCN.

The Association will be provided the tools to create standards for kryptomere, including measures to combat money laundering and insider trading, as well as the development and application of standards aimed at protecting customer funds exchanges.

The Association has filed an application in August and after a two-month review conducted by the FSA, JVCEA was approved and on its website has confirmed the accreditation of the formation of the self-regulatory body in the crypto industry, also announcing the entry into force of the rules of self-regulation. During the application review FSA carefully checked all the Affairs of the Association and also conducted a study on expectations of good governance from the group.

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