Japan may approve seven new crypto exchanges within the next six months

15 Jan, 2019
by Richard Allen
News
Japan may approve seven new crypto exchanges within the next six months

Japan’s Financial Services Agency (FSA) has released a statement that confirms the agency is deciding on accepting or rejecting the license applications for seven cryptocurrency exchanges within the next six months, InvestInBlockchain reports.

The agency states that the exchanges are required to go through an extended application process that is expected to take about six months. Once roughly 400 questions have been answered, the FSA will make the decision on whether to accept or reject the applications.

21 exchanges are expected to take part in the process, with seven already having submitted their applications and are awaiting a decision.

Despite the rather long process of approval, Japan has been fairly welcoming of cryptocurrency exchanges especially considering the $60 million Zaif hack.

Chepicap recently reported that Japan may not actually be considering a Bitcoin ETF after rumors began circulating following an article on Bloomberg.

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