LINE’s Crypto Exchange Could Win Japan License This Month, Report Says
Japanese messaging giant LINE may soon be able to open a cryptocurrency exchange for its 80 million users based in the country.
While Japan is known for its retail market, crypto exchange OKCoin believes the country’s strict licensing regime will attract institutional investors.
The instructions from the FSA are vague and obvious, but they indicate some movement on the regulatory front.
The regulator's stance contrasts with that of the U.S. Securities and Exchange Commission.
In 2019 the Financial Services Agency has approved 3 new exchanges, following a year without any new openings.
Fisco, owner of the Zaif crypto exchange, is being forced to upgrade its management systems after an investigation by Japan’s financial watchdog.