Japan’s self-regulatory crypto exchange body JVCEA adds five more exchanges

The Japan Virtual Currency Exchange Association (JVCEA) has announced the addition of five more crypto exchanges as Type II members.

Formed in April 2018, the JVCEA is a self-regulating organization that aims to protect investor interests. Founding members included 16 registered cryptocurrency exchanges in Japan. According to the JVCEA website (via online translation):

“We aim to ensure the proper implementation of the virtual currency exchange industry and to contribute to the sound development thereof and the protection of the interests of users of the virtual currency exchange industry.”

In June, the JVCEA released regulatory guidelines aimed at banning insider trading and prohibiting trading of cryptocurrencies with anonymity feature.

In October, the Financial Services Agency (FSA) granted self-regulatory status to the JVCEA, enabling it to set rules for domestic crypto exchanges and take action in case of violations.

In its latest announcement, the JVCEA said that the new Type II members are Coincheck, Everyone’s Bitcoin, Lastroots Inc., LVC Corporation and Coinage Corporation.

Cointelegraph explained that the Type II classification includes those companies that are in the process of applying for cryptocurrency trader registration. The JVCEA is currently accepting only Type II members and plans to soon add a Type II classification for companies that offer virtual currency-related services such as wallet providers.