29 Sep '17, 11am

Japan Issues Licenses for 11 Bitcoin Exchanges

Japan's Financial Services Agency (FSA) has issued operating licenses to 11 bitcoin exchanges, the regulator announced today. This follows an amendment to the payment services law , which stated that all cryptocurrency exchanges should register with authorities by the end of September. Passed in April, the new law established bitcoin as a legal payment method, and extrapolated security guidelines for cryptocurrency exchanges. The licensing enforces certain operational requirements for the exchanges, including high standards for cybersecurity, the segregation of customer accounts and the verification of customer identities. Seventeen applications are still in review, while 12 firms have closed their doors in light of the new regulations. Local cryptocurrency exchange Quoine – one of the 11 firms to receive a license – said in a press release that it will work alongside regu...

Full article: https://www.coindesk.com/japans-finance-regulator-issues-...

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Japan Issues Cryptocurrency Exchange Licenses

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