Japan Approves 17th Crypto Exchange – Its First in Over a Year

[Bitcoin Smith]

It has been over a year since Japan’s Financial Services Agency last approved a cryptocurrency exchange to legally operate in the country. Coincheck, which was hacked early last year, has become the 17th fully-registered crypto exchange in the country. The exchange has made numerous improvements after it was acquired by Monex Group.

Japan’s top financial regulator, the Financial Services Agency (FSA), announced on Friday that it has approved the registration of Coincheck as a cryptocurrency exchange. Under the country’s Payment Service Act, all crypto exchanges must register with the FSA.

The exchange’s parent company, Monex Group, also issued a press release on Friday with registration details. The announcement reads:

Coincheck Inc … announced today that it has registered with the Kanto Financial Bureau as a cryptocurrency exchange agency in accordance with the Payment Service Act, effective January 11, 2019.

Full article found here : https://news.bitcoin.com/japan-approves-cryptocurrency-exchange/

This can be a better news for the traders which is happening after a year from the last exchange happened in Japan.

But why the positive news about crypto currency not influencing the prices as much the negative news do?

[1715102729]

1715102729

[1715102729]

1715102729

[cokroalif]

the Japanese government officially endorsed bitcoin as a legal currency in digital transactions towards the end of 2017, and making bitcoin soar in price, it's no secret.

[1Referee]

But why the positive news about crypto currency not influencing the prices as much the negative news do?

Having exchanges approved is one thing, making sure there is enough demand is completely different. An exchange without demand is nothing.

In other words, it makes sense for the price to not move, because most exchanges need years to grow enough in order to become relevant enough to matter in crypto. Another thing is that most investors/traders solely focus on what's happening in the US, so even if Asia is where the main demand comes from, people will still wait for the US to make a move.

The same applies to institutional presence in the space. Not many care about Asia, the US is the kingpin in terms of capital.

[BestSSS]

This can be a better news for the traders which is happening after a year from the last exchange happened in Japan.

But why the positive news about crypto currency not influencing the prices as much the negative news do?

Japan is not the leading country in the world in terms of the number of people trading cryptocurrency, moreover, trading volumes from Japan are several times less than in the US, China, Korea or Russia. Therefore, the resumption of one of the exchanges is not good news that can push the price of bitcoin up.
So far, it's too little positive news in a barrel of shit ...

[noorman0]

But why the positive news about crypto currency not influencing the prices as much the negative news do?

When the price of BTC is down, there are only three choices for btc holders. Hold, sell to fiat or swap with altcoins in the hope that the price won't experience the same thing.
As always, that when people realize it is the initial phase of the bear market, all altcoins will experience price drops.

When BTC prices start to improve, people (holders and exchangers) are not having capital while they still keep btc and altcoin in their wallets. Only those who sell before the bear market will buy BTTC again. That's why when BTC began to improve, the circulation of BTC trade at that time was longer than the beginning of the bear market even though positive news affects market value.

[PattersonRaquel]

That's good news from the Japanese government. Where everyone knows bitcoin. The price has not been affected by this news because it has nothing special for everyone. It is a normal event and it is impossible to create a strong wave to create a pump.

[Lalafell]

the Japanese government officially endorsed bitcoin as a legal currency in digital transactions towards the end of 2017, and making bitcoin soar in price, it's no secret.

Japan is one of the country in south east asia who truly accept cryptocurrencies especially bitcoin. This kind of adoption can really affect the price on market. I also think if bitcoin will truly accepted in all country the price will totally increase because of high demand.

[Thanasis]

That's good news from the Japanese government. Where everyone knows bitcoin. The price has not been affected by this news because it has nothing special for everyone. It is a normal event and it is impossible to create a strong wave to create a pump.

When an exchange from Japan got hacked in 2017 the news spreaded all over the world and making a black day for the crypto prices it's made very huge dump on the day.
So this literally means people were spreading more negative news about the cryptocurrency to the world so stop listening to any news about cryptocurrency just do your own research.

[Renaldi blackspadeteam]

But why the positive news about crypto currency not influencing the prices as much the negative news do?

because negative news is very influential for crypto traders, they are afraid of large DUMPs, so if positive news only exists in one country it might be less influential, unless there are many countries reporting positive news about crypto and many investors joining in so I believe this will quickly affect prices crypto assets to get a green candle immediately.

[Harlot]

I don't know what's up with Japan on having multiple echanges in their country already. I thought when their exchange got hacked they would learn  to monitor small numbers of exchanges by now. But what they are doing on having 17 exchanges in one country is not that small, not unless they have doubled the personnel on monitoring these exchanges they supposed to not accept any new exchanges anymore. I just hope that this does not translate into having less security within their industry as I know this could backfire.

[D3m1r4wanti]

But why the positive news about crypto currency not influencing the prices as much the negative news do?

That's how real life is, don't you know if negative news, gossip, hoax and bad news usually will be more spread out and more sought after than some positive news or about success.
and even then it happens to negative news about bitcoin which is very fast dropping in price even though the truth of the news cannot be justified.

[Beerwizzard]

Some bad news are creating FUD and informing us about upcoming danger while good news are not really helping the crypto community.
Just news about a new Japan exchange doesn't tell us that general trading volume will be somehow increased because generally traders are satisfied with the current service of popular exchanges and you won't impress anyone just by giving another platform.

[el kaka22]

I am still shocked how crypto friendly japan is, I mean considering the first ever huge "hack" happened to mt.gox. Dude was running his company from Japan and he was literally stealing thousands of bitcoins probably worth over a billion dollars now bringing a lot of attention to japan in a bad manner and Japan still favors crypto all the same. If something like that happened in my country I can promise you people would cry foul all day all the time and the government would ban all crypto just because of one persons misconduct.

I am not overreacting literally games have been banned because people scammed people on that game, one online mmorpg has been banned in our country because there was this organized crime team that stole peoples in game money and than sold it for real cash somewhere.

[LUCKMCFLY]

This news is very positive for the market in general, because we have seen that in Japan there is a large community of people who are enthusiasts, investors and speculators, this will have a good impact on the market, we will have operators who do their business with much more tranquility.

[arpon11]

It has been over a year since Japan’s Financial Services Agency last approved a cryptocurrency exchange to legally operate in the country. Coincheck, which was hacked early last year, has become the 17th fully-registered crypto exchange in the country. The exchange has made numerous improvements after it was acquired by Monex Group.

Japan’s top financial regulator, the Financial Services Agency (FSA), announced on Friday that it has approved the registration of Coincheck as a cryptocurrency exchange. Under the country’s Payment Service Act, all crypto exchanges must register with the FSA.

The exchange’s parent company, Monex Group, also issued a press release on Friday with registration details. The announcement reads:

Coincheck Inc … announced today that it has registered with the Kanto Financial Bureau as a cryptocurrency exchange agency in accordance with the Payment Service Act, effective January 11, 2019.

Full article found here : https://news.bitcoin.com/japan-approves-cryptocurrency-exchange/

This can be a better news for the traders which is happening after a year from the last exchange happened in Japan.

But why the positive news about crypto currency not influencing the prices as much the negative news do?

That is good news from Japan and we are having Cryptocoins been adopted in that country.  Cryptocurrencies market is getting improving acceptability all overThe world and by that we would have improved price too.  The market has been behaving some how but with this good news from Japan we may have another upwards price movement very soon.  If other countries are doing what Japanese governments are doing we could have getting bitcoin been used all over the world.

[prtty2gal2]

Lot of exchanges being approved but things are still the way they are and nothing is being changed at all. All I’m hoping to see is the price of cryptocurrencies rise up, I’m not here to see exchanges being approved or whatsoever. Whether exchanges are approved or not doesn’t change anything. I hope there is a better news before the end of the first quarter.

[vintages]

Lot of exchanges being approved but things are still the way they are and nothing is being changed at all. All I’m hoping to see is the price of cryptocurrencies rise up, I’m not here to see exchanges being approved or whatsoever. Whether exchanges are approved or not doesn’t change anything. I hope there is a better news before the end of the first quarter.

Lol... I really do understand you bro but what to do? There is nothing much we can do but hope that the number of impulsive sellers who already lost hope in Bitcoin would stop dumping.
Moreover,  the Japanese are really contributing in their own way as they are the top Asia country who are truly open to cryptocurrency and embraced Bitcoin unlike others. We just keep keep hoping for the best.

[ethereumhunter]

It will not happen instantly especially we see bitcoin price is at a very low price, but it will influence in this year and the next years. People do not give too much reaction with the price because they are still waiting for a good moment for bitcoin price to increase so maybe after the middle of this year, we can see the price will start to increase.

Just be patient, we still have much time for that. I am sure that soon, everything will change, bitcoin price will increase and will make ATH again in the future. This is good news for the crypto user especially for people who lived in Japan, but the exchanges should extremely be careful to prevent from the attacking which can come in anytime. They need to take attention to securing their website from the hacker and makes their member satisfy while they are trading in the site.

[Kemarit]

Ain't surprised that Japan would truly support cryptos fully. Even if the Mt. Gox incident happened, it is just like a tip to the body of an iceberg of negativities for the people in JP, since there were a lot of exchanges already in that country (ahem! even the coindesk raid). I won't be surprised for more innovation, but I would expect it to be more advanced than any other country. I had seen Japan being the advanced in technology for quite a lot of years, to be honest.

Japan already has moved on after the Mt. Gox heist, specially when they decided to adopt bitcoin like a local currency there. I'm sure they have learned a lot of lessons years ago, but as we have said, sometimes the ghost of the past haunts us, but at least Japan didn't let themselves blanketed but continue to march or carry the torch of crypto from China. I'm pretty sure that there will be demand since they have recognized the 'legitimacy' of crypto since 2017.

[Ucy]

Anything but centralized exchange bro. Though having the exchanges under government regulation could help in times of hack, still there is risk of censorship and the possibility of fund getting seized.
So thanks, I will stick with decentralized exchange.