Five More Exchanges Join Japan’s Self-Regulatory Crypto Exchange Association
The JVCEA is a self-regulatory body formed in April by 16 registered crypto exchanges that aims to create industry-wide investor safety standards. In October, Japan’s financial regulator formally granted self-regulatory status to the JVCEA to oversee the crypto sector.
The body, made in part as a response to the January 2018 $534 million hack of crypto exchange Coincheck, had released a set of regulatory guidelines in June, including a ban on insider trading and prohibition against the trading of privacy-oriented coins.
The five new Type II members of JVCEA are Coincheck, Everyone’s Bitcoin, Lastroots Inc., LVC Corporation and Coinage Corporation. The Type II classification means that the business is in the process of applying for virtual currency trader registration, Cointelegraph Japan notes.