Home News Exchange Japanese Regulator FSA Approves Two Exchanges; Nearly 140 Pending Approval

Japanese Regulator FSA Approves Two Exchanges; Nearly 140 Pending Approval

March 28, 2019 13:42
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Source: btcearn
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The Japanese financial regulator Financial Services Agency (FSA) has approved two cryptocurrency exchanges, out of 23 that had applied for registration, as per reports by news portal news.bitcoin. The report added that nearly 140 cryptocurrency exchanges had filed their applications to be registered by the FSA.

In a conversation with the news portal, the FSA said, “The number of entities which have expressed interest in market entry as virtual currency operators in Japan (Including preliminary consultation/inquiries regarding registration) is more than 140 since last March.” The regulatory body added, “Among 23 entities from which FSA has actually received questionnaire … seven entities are under the main evaluation process as of this March.”

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Out of those seven only, two, namely- Rakuten Wallet and Decurret have been registered so far. As earlier reported by Crypto-News India, Rakuten acquired Everybody’s Bitcoin in August last year for 265 million yen (around $2.4 million, which amounts to 17 crore 20 lakh rupees). Interestingly, Everybody’s Bitcoin changed to Rakuten in March this year.

Announcing the registration, the wallet had said, “Rakuten Wallet will contribute to the sound growth of the market as a virtual currency exchange company, and will further enhance security and provide enhanced services so that more customers can use it safely and with confidence.”

Everybody’s Bitcoin had received a Business improvement order from Japanese FSA after the hack of Coincheck cryptocurrency exchange. The FSA had launched an inquiry into operations of all Japanese crypto exchanges as a precautionary measure to prevent future Coincheck like incidents, and in those inquiries it found Everybody’s Bitcoin guilty of not following proper procedures to ensure the safety of users’ funds. Other exchanges had also received such orders. It was at this point that Rakuten acquired Everybody’s Bitcoin to enter the cryptocurrency space.

News portal, news.bitcoin reported that Decurret on Monday announced that it has completed registration as a crypto exchange service provider and is opening its doors for business.

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