Confirmed information that Japan’s Financial Services Agency has authorized four more cryptocurrency exchanges to operate within the country. Recall that at the end of Q3 2017, 11 licenses had been issued by the agency. The enacted law on cryptocurrency regulation and the legalization of Bitcoin within the country mandates exchange registration with government agencies.
It is not entirely clear how trading rights are distributed among newcomers on the exchange. Companies such as Tokyo Bitcoin Exchange Co. Ltd, Bit Arg Exchange Tokyo Co. Ltd, and FTT Corporation are permitted to trade only Bitcoin. Meanwhile, Xtheta Corporation has been granted broad authority to explore the Ethereum (ETH), Litecoin (LTC), and other popular currencies markets.
According to a agency representative, 17 more companies have submitted registration and licensing applications, but there are questions regarding unmet requirements. Experts note that the second-largest exchange in the country, Coincheck Corporation, is also among those wishing to trade officially in Japan. Company representatives assured their clients that there is nothing to fear and that obtaining a license is imminent.
