Breaking News

Japan's Financial Services Agency approved four more crypto currency exchanges, a total of 15 exchanges have been legal

December 4 news, the Japanese Financial Services Agency (FSA) after another round of review, once again approved the four encrypted currency exchange, allowing them to operate legally in Japan. It is reported that as early as September of this year, the Japan Financial Services Agency approved 11 encrypted currency exchanges during the first round of examination and approval.

The FSA approved more crypto currency exchanges

The Japan Financial Services Agency (FSA) has posted on its website details on four crypto currency exchanges.

The FSA explained that only the digital currency processed by the 15 approved exchanges met the definition of "fund settlement law." It is reported that the capital settlement act was effective on April 1 this year, it admitted that Bitcoin is a legal payment method in Japan, and requires encrypted currency transactions need to register at the Office of Financial Services (FSA).

It is learned that this round of approved four exchanges are newly formed, they are: Tokyo Stock Exchange Co., Bit Arg Exchange Tokyo Co., Ltd., FTT, and Xtheta company.

According to FSA's website, three of the four exchanges have been allowed to trade Bitcoin and only xtheta is authorized to trade other cryptocurrencies including ETH, BCH, XRP LTC, ETC, XEM, monacoin, and counterparty tokens.

More applications under review

Currently, the FSA is still reviewing some applications. At the end of September, Nikkei reported that 17 companies were being "scrutinized" by the FSA. Eventually 12 companies did not meet the agency's registration requirements, after which they closed their trading business.

Applications currently under review, including Coincheck, Japan's second-largest bitcoin exchange. The exchange issued a statement last Friday clarifying that it filed a "virtual money exchange" registration application on September 13 and is still "censored" at the moment. Despite this, coincheck assured customers that they could still provide the service as usual.

Last month, the FSA released a paper clarifying that its administrative policies include cryptocurrencies and the ICO. This document outlines how cryptocurrency transactions can be regulated. This came after the regulator announced the approval of the 11 exchanges.