Japan's Financial Services Agency (FSA) announced the issuance of licenses to the Association of Japanese Cryptocurrency Exchanges(JVCEA) and Japan STO Association for the regulation of STO and derivatives trading.
FSA reportedly recognized Japan STOAssociation and JVCEA as self-regulatory organizations authorized to monitor transactions in financial derivatives and offer share tokens. JVCEA has been controlling the assets of cryptocurrency exchanges since 2018, and also has official permission to develop rules and regulations for regulating their activities in the country.
From May 1, JVCEA will change its name to JapaneseCrypto Asset Trading Business Association Also, from May 1, Japan has new laws on the regulation of cryptocurrencies - the Payment Services Act (PSA) and the Financial Instruments and Exchanges Act (FIEA). After the entry into force of these laws, the regulator plans to reduce the leverage limit to 2x on margin trading.
Last month licenses to exerciseActivities in Japan were received by Digital Asset Markets and Tokyo Hash, as well as the American cryptocurrency exchange Coinbase. In addition, the FSA launched the Blockchain Governance Initiative Network (BGIN) initiative for the sustainable development of the blockchain industry in Japan.
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