The Financial Services Agency of Japan (FSA) has authorized the operation of four new virtual currency exchange offices in the country in early December 2017. The approved exchanges are already the second batch of companies authorized by the FSA. At the end of September, the agency accepted the applications of the first batch of candidates composed of 11 exchanges.
In its statement posted on its website, the FSA claimed that only the 15 authorized exchanges should be allowed to exchange digital currencies because only the cryptocurrencies they manage are “in accordance with the definition of the fund settlement law”. . have been approved: Tokyo Bitcoin Exchange Co. Ltd., FTT Corp., Bit Arg Exchange Tokyo Co. Ltd. and Xtheta Corp.
Of the four companies, only Xtheta Corp. has been authorized to trade several cryptocurrencies such as Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC), NEM (XEM) and Monacoin. (MONA), as well as matching tokens (XCP). The rest of the exchanges are only allowed to exchange Bitcoin (BTC).
FSA evaluating other applications
According to the FSA, other applications are still being evaluated. There were also 12 companies whose applications were rejected because they did not meet the agency’s registration requirements. The disapproved exchanges have already closed their operations.
Among the applications examined is Coincheck, which is the second largest Bitcoin exchange in Japan. In its statement issued on December 1, the stock market said its request to become a “virtual currency exchange operator” was filed in mid-September and is still under surveillance until now.
Meanwhile, the FSA has issued a document detailing its administrative policies that include those covering virtual currencies and initial offers of coins (OIC) in November. The guideline specifies how the agency will monitor digital currency trading.