Japan is fast becoming the powerhouse of the bitcoin market after China cracks down,
A Japanese authorities' decision is helping the country to make its place as an inspiration for bitcoin, at a time when China is shying away from virtual currencies.
On Friday, Japan's Financial Services Agency (FSA) officially recognized 11 companies as Registered Crimea Exchange exchange operators. There are many requirements for registration companies, such as checking a user's identity to create a robust computer system and stop money laundering. The purpose of these rules is to protect investors from fraud and other misuse, while supporting financial technology innovation.
According to the firm, one of the registered companies is BitFilyer. The company's CEO Yuezhou Kano said that the CEO of more than 800,000 users Yuzo Kano has said that the new rules have been given in Japan as a quake for bitcoin .
CANO said in a press release Friday, "Japan is explosive with the demand of both business and virtual currency services." "FSA's approval to work as a registered virtual currency exchange for bitfire, and the agency's open and next thinking system can not come in better time for block space."
BlockChain is a digital laser that is scattered on the network. It is used in cryptoncurrency space so that every transport between users can be safely recorded.
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Thanks for sharing. What's your sources ?