Japanese Association of cryptocurrency exchanges will publish new regulations

Japanese Association of cryptocurrency exchanges will publish new regulations

It is reported that the Association of cryptocurrency exchanges Japan (JVCEA) next week will release new voluntary regulations.

Official regulatory guidelines on a voluntary basis, will include a ban on insider trading and the penalties for staff exchanges, which will be seen in “unfair” trading.

In order to comply with the rules of combating money laundering, the proposal for voluntary regulation will also prohibit trading on the stock exchanges of anonymous altcoins, including Monero and zcash for.

The Association, created at the end of April after breaking Coincheck is a self-regulatory body that combined the existing system — Japanese Association of the blockchain (JBA) and Japan Association of crypto-currency business (JCBA).

The organization, consisting of 16 licensed cryptocurrency exchanger of Japan, is responsible for the safe exchange of crypto currencies, as well as for more specific tasks, such as evaluating tokens issued in the Initial offerings of coins (ICO).

In April, the Association of crypto-currency business Korea published its own guide, which included separation of custody of funds of clients and companies, a minimum security of $1.8 million and the publication of audits and financial reports on a regular basis.

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