• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Running a cryptocurrency exchange in Japan is no smaller challenge

190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Junichi Nakajima, the new commissioner of Japan’s Financial Services Agency, believes Bitcoin is a speedy way to transfer revenue, but persons use BTC for speculation and investment.

Running a cryptocurrency exchange in Japan is no small challenge
Running a cryptocurrency exchange in Japan is no smaller challenge

Japan Financial Services Agency (FSA) new commissioner Junichi Nakajima believes the nation desires to believe very carefully just before generating Bitcoin and other cryptocurrencies much more available to the masses.

Related articles

Hong Kong cryptocurrency exchange Hounax scammed users out of $15.4 million

Hong Kong cryptocurrency exchange Hounax scammed consumers out of $15.four million

November 27, 2023
Circle teams up with SBI Holdings to popularize USDC in Japan

Circle teams up with SBI Holdings to popularize USDC in Japan

November 27, 2023

Nakajima believes crypto assets like Bitcoin have the likely to advantage the public as a speedy and economical way to transfer revenue, he explained in an interview with Bloomberg. However, most crypto assets are at the moment employed for speculation and investment.

That’s why the Japanese regulator believes cautious consideration is necessary just before generating it much easier for the public to invest in crypto assets. Mr. Nakajima explained that the large volatility of the cryptocurrency marketplace due to the absence of the underlying asset is the major cause why the Japanese regulator does not let cryptocurrency investment trusts.

Japan is acknowledged for stepping up regulatory efforts following the infamous hacker assault on Tokyo-based mostly cryptocurrency exchange Coincheck, which resulted in the reduction of 523 million NEM coins, well worth roughly $ 534 million. .

Since then, the nation has turn into a hard marketplace in which to do company for registered cryptocurrency exchanges, Nakajima admitted. The existing regulatory framework for cryptocurrency exchanges successfully protects consumers and meets anti-revenue laundering necessities. But the company scenario of most registered crypto exchanges is “quite difficult,” Nakajima extra.

The Japanese government is aiming for worldwide cooperation to regulate digital currencies. So Japan’s Ministry of Finance is rumored to be attempting to enhance its employees. The FSA also set up a new unit final month to oversee broader cryptocurrency markets and concentrate on decentralized finance.

Major cryptocurrency exchanges this kind of as Binance and Bybit are not amid the 31 registered Japanese cryptocurrency exchanges. The FSA issued an official warning letter to Bybit in May and Binance in June, accusing them of supplying cryptocurrency exchange companies in the nation devoid of registration.

Synthetic Currency 68

Maybe you are interested:

Maybe you are interested:

Tags: ChallengeCryptocurrencyExchangeJapanrunningsmall
Share76Tweet48

Related Posts

XRP Leads Crypto Rally Amid Sentiment Shift

by shark
June 25, 2025
0

Ripple Labs sees XRP rally due to regulatory clarity, ETF optimism, and geopolitical ceasefire.

Circle’s Valuation Surges to $66B, Stock Up 800%

by shark
June 25, 2025
0

Circle's valuation hike underscores stablecoins' critical role in financial technology, impacting liquidity and regulatory focus. It also highlights market confidence...

Ark Invest Sells $110M in Circle Shares

by shark
June 25, 2025
0

Ark Invest sells $110 million in Circle shares as valuations soar, reallocating to Robinhood and Coinbase. Circle IPO fuels mainstream...

SEI Price Surges 41% Amid Market Rally

by shark
June 25, 2025
0

SEI Network sees a 41% increase as broader crypto markets rise, driven by technical factors.

Schiff Proposes COIN Act Targeting Trump’s Crypto Ventures

by shark
June 25, 2025
0

Lawmaker Adam Schiff announced the COIN Act targeting Donald Trump's crypto activities following reports of his $57 million revenue from...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • XRP Leads Crypto Rally Amid Sentiment Shift
  • BlockDAG’s 100M Airdrop Live While Worldcoin & DOGE Lose Steam
  • Circle’s Valuation Surges to $66B, Stock Up 800%
  • Ark Invest Sells $110M in Circle Shares
  • SEI Price Surges 41% Amid Market Rally
  • Unstaked’s $1 Million Giveaway Shines as XRP Wavers and SKY Climbs
  • BCH and HBAR Stall at Key Levels While Web3 ai Presale Surges Past $8.5M
  • Schiff Proposes COIN Act Targeting Trump’s Crypto Ventures
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7