THELOGICALINDIAN - The affiliation of 16 governmentapproved bitcoin exchanges is reportedly alive on arty a cardinal of trading restrictions Jiji Press appear that there is a plan to appoint trading banned for all users and added restrictions for amateur and the aged This follows contempo letters of the affiliation introducing allowance trading banned as allotment of its selfregulatory rules
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Possible Trading Caps
According to Jiji Press account agency, the Japan Virtual Currency Barter Association (Jvcea) is planning to set trading banned for its crypto barter members.
The affiliation is comprised of all of the 16 government-approved crypto exchanges in Japan. It was accustomed in May in acknowledgment to the drudge of Coincheck in January.
“The affiliation will adjudge on the affair soon,” sources told the account aperture Friday. It will again book with the country’s top banking regulator, the Banking Casework Agency (FSA), for approval “to be accustomed as a self-regulatory anatomy beneath the acquittal casework law,” the sources detailed.
“The planned aphorism is aimed at preventing cryptocurrency traders with almost baby assets from adversity abundant losses and adverse difficulties with circadian expenses,” the sources additionally added, noting:
Other Restrictions Being Considered
The affiliation has been alive on self-regulatory measures back its establishment. Last month, Nikkei reported that it is planning to set rules to prohibit cabal trading and aloofness coins.
The Jvcea self-regulatory rules were accepted to be appear aftermost month. However, the advertisement was delayed back the FSA issued business advance orders to six of the association’s members, causing two carnality presidents of the affiliation to resign.
The trading absolute address follows addition address that the affiliation is planning to absolute margin trading, abbreviation advantage to 4 times. Currently, Japanese crypto exchanges action as aerial as 25 times leverage.
According to the publication’s sources:
While assorted letters accept alike apropos the association’s self-regulatory policies, the alignment itself has not clearly fabricated any announcements.
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