Five more exchanges join Japan's self-regulatory crypto body

05 Jan, 2019
by David Robb
Exchange
Five more exchanges join Japan's self-regulatory crypto body

Five more crypto exchanges have joined Japan's self-regulatory crypto organization, the Japan Virtual Currency Exchange Association (Jvcea). Coincheck is the most high-profile of the new members.

The JVCEA was founded last year as a more effective way for crypto platforms in Japan to be policed. The participation of experts directly involved with the business will apparently help with regulatory clarity and faster decision-making, and the body was approved by Japan's FSA (Financial Services Agency).

Coincheck is mostly known for the major hack that it suffered at the start of 2018, which many believe was a contributing factor to the end of the historic bull market. Over $500 million in crypto was stolen from the platform.

Read more: Coincheck registrations reopen, withdrawals and deposits of 'some' cryptos

The other new members joining the JVCEA are: Everyone's bit coin Co., Ltd, Last Roots Co., Ltd., LVC Corporation, and Coinage Corporation.

Read more: Japan’s prime financial regulator on self-regulation of crypto exchangesJapan has granted the cryptocurrency industry self-regulatory status

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Read more about: CoinCheck Japan

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