Although the Japanese government has tightened some rules regarding the regulation of cryptocurrency since May, they are reasonable and necessary for the organization of normal operation and circulation of the cryptocurrency. So, the requirement for cryptocurrency exchanges to obtain the appropriate licenses, and for foreign exchanges still need to register in your country, is absolutely normal. With this approach, fraud and abuse will be much less. It is also reasonable for exchanges to register decent-sized authorized capital when registering them in the form of joint-stock companies.