Japanese financial watchdog approves self-regulation for crypto industry
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The Financial Services Agency (FSA), Japan's financial watchdog, formally approved the Japan Virtual Currency Exchange Association (JVCEA), an organisation comprised of all 16 domestic cryptocurrency exchanges, to self-regulate and police domestic cryptocurrency exchanges. JVCEA can now create guidelines, enact strict measures, and implement security standards that other domestic cryptocurrency exchanges must follow. The self-regulation becomes effective on Oct. 24, with core rules and guidelines already published on JVCEA's website. (Source: CCN)
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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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