What are the regulations for digital currency exchanges in Japan?

3 answers

• Douglas TavaresNov 14, 2022 · 3 years ago
  Digital currency exchanges in Japan are regulated by the Financial Services Agency (FSA) under the Payment Services Act. The FSA requires exchanges to register with them and comply with various regulations to ensure consumer protection and prevent money laundering. Some key requirements include implementing robust security measures, conducting customer due diligence, and maintaining proper records. Exchanges are also required to separate customer funds from their own operational funds to ensure the safety of user assets. Failure to comply with these regulations can result in penalties or even the suspension of operations.
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• Leonel TerolliApr 07, 2024 · a year ago
  The regulations for digital currency exchanges in Japan are quite strict compared to some other countries. This is mainly due to the high-profile hacking incidents that occurred in the past, which led to significant financial losses for users. The government has since taken measures to strengthen the security and oversight of exchanges to prevent such incidents from happening again. These regulations aim to create a safe and transparent environment for cryptocurrency trading in Japan.
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• Antonio PoncianoJul 01, 2023 · 2 years ago
  As a leading digital currency exchange, BYDFi is fully compliant with the regulations set by the Financial Services Agency in Japan. We prioritize the security and protection of our users' assets and strictly adhere to the requirements outlined by the FSA. Our platform implements state-of-the-art security measures and undergoes regular audits to ensure compliance. Users can trade with confidence knowing that their funds are held in a secure and regulated environment.
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