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Tag Archives: SelfRegulation

Japanese Financial Services Authority Approves Self-Regulation for Crypto

Japan’s Financial Services Agency (FSA) has granted self-regulatory status to the country’s cryptocurrency industry, giving the Japan Virtual Currency Exchange Association (JVCEA) authority to oversee the space, according to a Reuters report. The FSA approval, which was granted on Wednesday, October 24, 2018, gives the association the power to regulate the sector, safeguard customer assets, give operational guidelines, elaborate on ...

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Japan Approves Self-Regulation for Cryptocurrency Industry

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. The Financial Services Agency (FSA) on Wednesday approved the Japan Virtual Currency Exchange Association (JVCEA), a body comprised of all 16 licensed domestic cryptocurrency exchanges, to become a ‘certified fund settlement business association.’ In doing so, the ...

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Self-Regulation on Crypto Exchanges Not Enough For Institutional Investors

In the absence of regulatory oversight, crypto insiders are looking for ways to self-regulate in attempts to make the industry more attractive to institutional investors, some of whom are wary of entering the market due to the potential for hacks and fraud. But some experts are calling into question the practicality of these groups. Industry Groups Look to Regulate Crypto From the ...

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U.S. Cryptocurrency Exchanges Set to Meet in September to Discuss Self-Regulation

A working group led by cryptocurrency exchange Gemini will hold its first meeting in September to discuss forming a self-regulatory organization (SRO) to oversee the burgeoning U.S. crypto trading market. Announced on Monday, the Virtual Commodity Association (VCA) initially includes participation from four cryptocurrency exchanges that serve U.S. customers: Gemini, Bitstamp, Bittrex, and bitFlyer USA. Representatives from these firms will ...

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U.S. Think Tank, AEI, Argues for Self-Regulation of Cryptocurrencies

The U.S.-based political think tank, American Enterprise Institute, recently published an essay arguing for the self-regulation of the cryptocurrency industry and said that government regulation should only be used as a last resort. Broynwyn Howell, author of the essay, started off by mentioning how it is understandable for governments that see the price volatility and technical complexity of cryptocurrencies to ...

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Almost 9 out of 10 Crypto Execs Want ‘Formalized’ Industry Self-Regulation: Research

Eighty-six percent of cryptocurrency firms’ executives and investors want the industry to self-regulate, new research published this week reveals. Part of the 2018 Cryptocurrency Survey by international law firm Foley & Lardner LLP, the majority of respondents also tipped Bitcoin to become the cryptocurrency of choice for transactions in the long term. The firm questioned a total of 62 figures ...

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Japanese Cryptocurrency Firms Draft Policies of Self-Regulation

Companies associated with the Japanese cryptocurrency industry are trying to increase consumer protection and transparency with a set of self-policing regulations. The rules aim to tackle issues such as insider trading and security compromises at exchanges amongst others. Japan: New Policies Aim to Protect Exchanges and Their Users The Japan Virtual Currency Exchange Association (JVCEA) is behind the initiative that ...

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Japanese Crypto Exchanges Plan for Self-Regulation

A total of 16 Japanese crypto exchanges have joined together to form a new crypto association. The goal? To self-regulate cryptocurrencies in order to regain the public’s trust of the crypto industry as a whole. News outlet Nikkei reported that the Japanese crypto exchanges are looking towards self-regulation as a way to “rebuild public trust battered by high-profile theft.” More ...

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South Korean Cryptocurrency Exchanges Unveil Self-regulation Guidelines

South Korean cryptocurrency exchanges aim to self-regulate this industry. That decision has been known for a while now, yet the official rules were unveiled last night. This approach will help provide a more legitimate image for the different cryptocurrencies gaining traction in the region. Additionally, it will also foster a vibrant blockchain ecosystem. South Korea and Self-Regulation Several weeks ago, ...

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