TOKYO, JAPAN – Japan’s Financial Services Agency has approved 11 cryptocurrency exchange companies moving the country apart from its neighbors that are constriction their control on cryptocurrencies.
In April, the Japanese government acknowledged bitcoin as legal tender thus requiring exchanges to register with the Financial Services Agency.
MAKE SURE TO FOLLOW US ON TWITTER: @BLCKCHAINDAILY
This attempt was made to circumvent a recurrence of the Mt Gox failure in 2014.
Bitcoin trading, along with other cryptocurrencies, has increased dramatically this year due to the legal acknowledgment prestige as well as the escalation in the price of bitcoin and ethereum.
Industry officials are celebrating Japan as one of the world’s leading bitcoin trading centers.