Japan Grants Digital Currency Sector Self-Regulatory Status

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On October 24, Japan's Financial Services Agency (FSA) gave the digital currency sector self-regulatory status, allowing the Japan Virtual Currency Exchange Association to patrol, ratify and sanction exchanges for any arising violations. The Japanese government has been revising its approach toward a sector which has been hit twice by massive thefts.

Japan's FSA approval offers the sector association full rights to make rules to protect customer assets, curb money laundering, set operational guidelines and police compliance. See more for yourself here.