📰 Japanese Exchanges Are Now Officially Licensed
11 Japanese Bitcoin Exchanges Receive Official License!
The Japanese Financial Services Agency (FSA) just announced that they have approved 11 bitcoin exchanges to officially operate within the country. It had become necessary for the Exchanges to become licensed by the FSA after the earlier legalization of Bitcoin and it´s acceptance as an official way of payment.
Nonetheless the FSA stated that the Bitcoin exchanges are under "full surveillance", so that on-site inspections or other controls might take place at any time. Especially as the registration with the FSA requires the Exchanges to fulfill additional security guidelines like segregating funds in customer accounts or identity versification´s in order to combat money-laundering via an anonymous Blockchain.
Right now the FSA only licensed 11 exchanges, among which we may as well find the bigger Exchanges bitFlyer and Quoine. 17 Others are still waiting for their official approval as their applications are still to be reviewed by the FSA.
(Source - Cryptocoinsnews.com)
Japan Might be the Central Hub of Crypto in Future
Just some months after Bitcoin got legalized in Japan and declared an official payment option we may now read about Japanese Exchanges being officially licensed. It´s definitely a great step and it just seems like the Japanese Officials are the only ones who really understand the value and benefit of CryptoCurrencies as well as the huge Potential they hold.
Of course there is as well a downside that some might criticize as the official adaption as well leads to more control and identification within the Blockchain. It´s not as anonymous anymore like it intends to be but at least in my opinion that´s a price I´m willing to pay as long as we can control our money on our own instead of using any banks.
As there is no other country adapting Bitcoin or CryptoCurrencies in such big steps it´s very likely that Japan will sooner or later become the central Hub of Crypto in Asia and maybe even in general. After the closure of many Chinese exchanges a lot of Trading Volume shifted from there to Japan already and I´m very positive that the next good news from Japan are just around the corner.
Join @ADSactly, A Worldwide Crypto Community!
Good news. Hope other countries with big economies follow suit.
The US is actually just thinking about similar steps ;)
I'm happy with Japan and South Korea leading the way in Asia. At least they have some semblance of being open and democratic.
I can only agree on your words. They are both open minded countries, which are very well developed and adopting new innovations quite quickly but as well in a wise way ;)
China made a big mistake by not allowing exchanges. Now it looks like Japan is going to be at the forefront and reap the rewards.
Well we'll see whether China will change its mind again ;)
It is happy to see this news. India is also envisaging the role of blockchain in everyday banking. Many banks in India have already started to move towards bitcoin.
A
It might as well be regulated and legalized soon ;)
wow this is a good news for cryto markets sir,,,,,.
yes, it definitely is :)
Its a great news to all investor
the yepps played right ust b4 the opening of a steemit like social media this month or the next...
I would imagine this is pretty big and good news for the crypto markets
I think so ;)
👍😎👍
They are really showing the others how its done.
Oh yeah, they do :)
Thanks for the update. Do you know anything about a timeline for when these exchanges will be live? I would assume we see a bump around the time each exchange that goes live.
I am still new to crypto. However, I think this will help with any future China FUD.
The exchanges are all already existing. They just got officially licensed now.