RATE Group | Japan to Boost Its Cryptocurrency Registration Process for Exchanges
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Japan to Boost Its Cryptocurrency Registration Process for Exchanges

04 Sep Japan to Boost Its Cryptocurrency Registration Process for Exchanges

Posted at 09:19h in Cryptocurrency News by

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Japan is revamping its registration process for cryptocurrency exchanges. According to the country’s Financial Services Agency (FSA), the “state watchdog has increased the number of questions asked when screening applications to about 400 items – up fourfold.”

Japan Cryptocurrency

A Mixed Relationship with Crypto

Japan has certainly had a love-hate relationship with cryptocurrency. At present, the country is one of the biggest players in the digital market after the U.S. and South Korea. Yen-to-bitcoin trading is just behind USD-to-bitcoin and won-to-bitcoin conversions, and the virtual money and blockchain sectors are growing daily.

But there’s a dark chapter in Japan’s history book – a chapter that comes in the form of not one, but two of the world’s biggest data breaches. The first is Mt. Gox, which occurred in February 2014. Nearly half-a-billion dollars in BTC funds were lost, and while the company has since begun issuing refunds, many are still stuck in what surely feels like…

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