The Financial Services Agency has raised the alarm over the slow pace at which the digital assets self-regulatory body is carrying out its affairs, according to a source close to the JVCEA.
Coincheck’s margin reduction will come into effect from October 31, with new margin trading orders suspended effective immediately.
Wirex is attempting to break into the Japanese regulated market so it can offer its full services to the country.
The Japan Virtual Currency Exchange Association has stressed that crypto traders need a bit of a tax break for the industry to thrive.
The Japan Virtual Currency Exchange Association announced the addition of five new crypto exchanges to their Type II member list, further solidifying their place as a self-regulating body.
According to report, Japan Virtual Currency Exchange Association (JVCEA) will establish a ceiling for the amount of digital currencies allowed to be managed online by any of the country’s crypto exchanges.
The cryptocurrency exchanges in Japan have formed a self-regulatory organization proposing restriction for all investors which will allow them to borrow for up to four times their deposit.
BitFlyer CEO Yuzo Kano and Bit Bank CEO Noriyuki Hirosue tendered their resignations after both exchanges received the orders.