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Author Topic: Japan’s Licensed Crypto Exchanges Launch Self-Regulatory Body  (Read 23 times)
coinpediaJordan
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April 27, 2018, 07:41:27 AM
 #1

16 cryptocurrency exchanges in Japan are joining hands to help come up with guidelines that will restore customer confidence. This include guidelines for ICOs and trading.

Read more here: https://coinpedia.org/news/japans-licensed-crypto-exchanges-self-regulatory-body/
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Gecko8
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April 27, 2018, 07:52:27 AM
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This is a real good move. More protection for customer is required. Otherwise mass Adoption will take very Long for crypto currencies. All this scams and hacks around are very frustrating.

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April 28, 2018, 08:34:32 AM
 #3

16 cryptocurrency exchanges in Japan are joining hands to help come up with guidelines that will restore customer confidence. This include guidelines for ICOs and trading.

Read more here: https://coinpedia.org/news/japans-licensed-crypto-exchanges-self-regulatory-body/

Great news I think if the community joins hands and stops becomes tribal that is the sure way to make lots of positive progress in this space

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April 28, 2018, 09:34:55 AM
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I think this is good news, and this is a nice move by cryptocurrency exchanges in Japan to cultivate Japanese society's confidence in cryptocurrency.

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OrangeSeller
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May 01, 2018, 08:20:39 AM
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This is a real good move. More protection for customer is required. Otherwise mass Adoption will take very Long for crypto currencies. All this scams and hacks around are very frustrating.
This was something very much expected because of the reason that the government of Japan was thinking seriously about the regulation of the crypto coins since a long time ago because of the fact they know the worth of the crypto coins and their importance in helping them in making their economy stronger. We all must appreciate this step and that this will also encourage other governments to take similar steps in future.

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May 01, 2018, 09:59:06 AM
 #6

We all must appreciate this step and that this will also encourage other governments to take similar steps in future.

It's a good initiative from the exchanges themselves, but it only helps till it doesn't help anymore, and that's just a matter of time. The thing is that even with how tight everything is already set up, and will be set up in the future, those who plan to perform inside theft will still be able to do so. It only requires them to become more creative, but they'll find a workaround if needed. It's a lucrative practice if you take into consideration that exchanges hold tens (some times hundreds) of millions worth of crypto value in their wallets.

I am more a supporter of less centralized exchange usage, and more their decentralized equivalents. People don't think about it, but these crypto exchanges are exactly like banks; they hold the majority of the funds, which is quite ironic if you see how people keep saying they want to avoid banks and whatnot. It doesn't matter who or what entity has control over your money and coins, you aren't the owner anymore and completely depend on their mercy.

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