The financial services Agency of Japan (FSA) approved the list of 11 companies that will act as operators of bitcoin exchanges, reports Reuters.
However, the FSA has introduced a number of requirements for bitcoin exchanges. It is the creation of reliable computer network, isolation of customer accounts and identities of the clients.
Financial regulators in Japan have already created a regulatory framework for crypto-currency treatment, which has led to an increase in trading bitcoin and other cryptocurrencies. The FSA said that so Tokyo aims to strike a balance between measures to protect investors and measures to support the FINTECH innovation in the country.
Moreover, Japanese officials announced that they are not going to ban ICO, even though such proposals appear from time to time.
Thus, Japan’s policy in this area differs markedly from the policies of its neighbors such as China and South Korea, where the campaign for the initial placement of the tokens fell under the ban.
Recall that Japan and Korea are moving to payments in the cryptocurrency Ripple