Japan’s new bitcoin exchange registration - Accepted

[rodel caling]

Coincheck’s application approved for Japan’s new bitcoin exchange registration

Popular Japan-based bitcoin exchange and payment company Coincheck announced a milestone today as it officially got its application certified in Japan for registration as digital currency exchange. Japan is set to implement its new regulation for exchanges at the end the month.

This comes after April’s changes to the country’s fund settlement law, which made bitcoin payments legal. Japan is now considered a leader in digital assets, helping to foster innovation in the country.

This accommodating regulatory apparatus comes just a few years after the largest bitcoin exchange at the time, Tokyo-based Mt. Gox, collapsed and along with it, millions of dollars of users, leaving a bad impression on the Japanese street of the cryptocurrency.

Times have now changed, especially with Japan now requiring insurance protection for all bitcoin exchanges, and regular checkups from the financial authorities to ensure nothing like Mt. Gox happens again in newly passed regulations.

Coincheck’s application was accepted as one of the well-known companies in the country, this was largely just a symbolic achievement for them. This won’t be the case for all companies looking to become registered and legal within Japan.  The Japanese Financial Services Agency (FSA) has received 50 exchange registration applications in August 2017 alone to be reviewed for compliance.

Some other major exchanges in the country include bitFlyer, Zaif, BitPoint, and other entrants from well known public companies, who will have no problem getting initially registered. It will be the smaller start-up operators whom this new law will really shut out in the name of safety and protection.

Regulation compliance and fund safety, and KYC laws are fundamental in the new exchange regulation. Exchanges must be ready and registered by the end of September 2017, as well as ensure that their users are fully protected to be inclined to a license. Exchanges are required to report risks of financial losses that factors like price volatility may cause, and to verify the identities of those who open accounts.

https://www.cryptoninjas.net/2017/09/13/coinchecks-application-approved-japans-new-bitcoin-exchange-registration/

this nice for bitcoin i think now bitcoin goes uprise again about this good news, i believe more country are support to the bitcoin to help the economic of the community of every country, but i hope the china banned will fixed sooner.

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[Siren]

Japan is now the new leader of the bitcoin tsunami. Another good move and I'm sure this will bring good impact to the market as Japan one of the top in terms of trading volume per 24 hours. And it also goes to show that they are really opening a lot of opportunities to their citizens as well to trade and profit. Unlike China who is cracking everything that is bitcoin related, Japan is going strong and the Mt. Gox is already a thing of the past and totally forgotten. Long live Japan.

[cybersofts]

This just goes to show that Japan is willing to embrace new technologies and assets as long as it is regulated and certified by their own standards. They see nothing wrong about bitcoin, they accept it and regulate it so that nothing wrong could happen on their soil. Also, having another exchange could precent the next Gox if in case one of the major exchanges thought of doing the same. Overall, a good move for Japan, giving zero fucks about what happened in China.

Forget about China, they think they're the back bone of blockchain technologies and cryptocurrency which now currently shows they are irrelevant!
Very soon they would realize their mistake and when they realized that, they are left behind for good. No China but we are still standing here shining like stars.

Japan is the way to go!

[datodota002]

Coincheck’s application approved for Japan’s new bitcoin exchange registration

Popular Japan-based bitcoin exchange and payment company Coincheck announced a milestone today as it officially got its application certified in Japan for registration as digital currency exchange. Japan is set to implement its new regulation for exchanges at the end the month.

This comes after April’s changes to the country’s fund settlement law, which made bitcoin payments legal. Japan is now considered a leader in digital assets, helping to foster innovation in the country.

This accommodating regulatory apparatus comes just a few years after the largest bitcoin exchange at the time, Tokyo-based Mt. Gox, collapsed and along with it, millions of dollars of users, leaving a bad impression on the Japanese street of the cryptocurrency.

Times have now changed, especially with Japan now requiring insurance protection for all bitcoin exchanges, and regular checkups from the financial authorities to ensure nothing like Mt. Gox happens again in newly passed regulations.

Coincheck’s application was accepted as one of the well-known companies in the country, this was largely just a symbolic achievement for them. This won’t be the case for all companies looking to become registered and legal within Japan.  The Japanese Financial Services Agency (FSA) has received 50 exchange registration applications in August 2017 alone to be reviewed for compliance.

Some other major exchanges in the country include bitFlyer, Zaif, BitPoint, and other entrants from well known public companies, who will have no problem getting initially registered. It will be the smaller start-up operators whom this new law will really shut out in the name of safety and protection.

Regulation compliance and fund safety, and KYC laws are fundamental in the new exchange regulation. Exchanges must be ready and registered by the end of September 2017, as well as ensure that their users are fully protected to be inclined to a license. Exchanges are required to report risks of financial losses that factors like price volatility may cause, and to verify the identities of those who open accounts.

https://www.cryptoninjas.net/2017/09/13/coinchecks-application-approved-japans-new-bitcoin-exchange-registration/

i hope that registration will increase the bitcoin price and japanese goverment not follow the chinese goverment, and i hope japanese people can replace chinese.

[wellsontheja]

This is good news for bitcoin i hope that will increase bitcoin price and i hope some japanese investor can do more than chinese investor and replace chinese trading record.

[redversfrasas]

This is nice invention. Why long time ago no one made that?

[betadin66]

Coincheck’s application approved for Japan’s new bitcoin exchange registration

Popular Japan-based bitcoin exchange and payment company Coincheck announced a milestone today as it officially got its application certified in Japan for registration as digital currency exchange. Japan is set to implement its new regulation for exchanges at the end the month.

This comes after April’s changes to the country’s fund settlement law, which made bitcoin payments legal. Japan is now considered a leader in digital assets, helping to foster innovation in the country.

This accommodating regulatory apparatus comes just a few years after the largest bitcoin exchange at the time, Tokyo-based Mt. Gox, collapsed and along with it, millions of dollars of users, leaving a bad impression on the Japanese street of the cryptocurrency.

Times have now changed, especially with Japan now requiring insurance protection for all bitcoin exchanges, and regular checkups from the financial authorities to ensure nothing like Mt. Gox happens again in newly passed regulations.

Coincheck’s application was accepted as one of the well-known companies in the country, this was largely just a symbolic achievement for them. This won’t be the case for all companies looking to become registered and legal within Japan.  The Japanese Financial Services Agency (FSA) has received 50 exchange registration applications in August 2017 alone to be reviewed for compliance.

Some other major exchanges in the country include bitFlyer, Zaif, BitPoint, and other entrants from well known public companies, who will have no problem getting initially registered. It will be the smaller start-up operators whom this new law will really shut out in the name of safety and protection.

Regulation compliance and fund safety, and KYC laws are fundamental in the new exchange regulation. Exchanges must be ready and registered by the end of September 2017, as well as ensure that their users are fully protected to be inclined to a license. Exchanges are required to report risks of financial losses that factors like price volatility may cause, and to verify the identities of those who open accounts.

https://www.cryptoninjas.net/2017/09/13/coinchecks-application-approved-japans-new-bitcoin-exchange-registration/

this nice for bitcoin i think now bitcoin goes uprise again about this good news, i believe more country are support to the bitcoin to help the economic of the community of every country, but i hope the china banned will fixed sooner.

yes this is new news for bitcoin which is now officially legal to be digital currency in japan, and also as official payment instrument

[audrey12]

I am happy to see that there are countries who give full support to crypto currencies it only shows that the likekyhood that bitcoin can become the worlds main currency is very near to happen if Japan can accept bitcoin for sure the world can do the same maybe we just need a country who will pilot test their economy and see what's the effect of full adaptation of bitcoin.

[cryptolerant]

this kind of news make me really happy. this is very good for crypto currency world because it increases the awareness and popularity.

[megynacuna]

this kind of news make me really happy. this is very good for crypto currency world because it increases the awareness and popularity.

Well Japan has been pioneering a lot of innovations about Bitcoin and its encouraging because its increasing awareness like you said and that's going to drive more people into investing in Bitcoin and that means more profit for us the old investors.

[btccashacc]

This is a good news for the community, well we all know that Japan is the most bitcoin-friendly country, and also is a tech leader and innovative country that's why they think that bitcoin is not a threat to them like other governments think, I read some news that many countries are starting to embrace bitcoin well if all the countries in this world do what Japan has done this gonna be epic.

[aoluain]

yup its a nice read and great to see Japan moving in the right
direction although I wonder what implications there will be for
their exchange users in so far as their identities,
where do they go?
will there be tax liabilities?
does it mean that Japan is moving closer to try and regulate Bitcoin?