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Japanese Financial Regulator, FSA Receives 190 Cryptocurrency Exchange License Applications

Reportedly, the agency has received over 190 applications for cryptocurrency exchange licenses, as told by an unnamed FSA staff member quoted by Cointelegraph Japan in their report on Dec. 28. On orders of FSA, theJapanese Virtual Currency Exchange Association (JVCEA) overseas the crypto space in Japan.  Along with providing the guidelines to crypto exchanges, the JVCEA is also responsible to develop anti-money-laundering (AML) policy.

Read more: Japan’s Financial Regulator Reveals The Updated List of Crypto Regulations

With the growth of cryptocurrency and blockchain industries in the country, Japan has been reportedly switching gears in order to better deal with fintech-related fields, including cryptocurrencies. The Inspection Bureau was replaced by the Strategy Development and Management Bureau replaced to draft a financial strategy policy that will handle issues pertaining to the digital currencies market, fintech, and money laundering.

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