The Japan Virtual Currency Exchange Association (JVCEA)
announced that five deemed exchanges that are or will be applying for registration
as cryptocurrency exchange operators (Type II members) joined the association
on February 1, 2019.
The five new members are: Money Forward Financial, a subsidiary
of Tokyo Stock Exchange (TSE)-listed Money Forward, which provides wealth
management applications; OKCoin Japan, a Japanese
subsidiary of the OK Group, which operates OKCoin, a major overseas cryptocurrency
exchange; Mercury, a subsidiary of TSE-listed CERES INC., which primarily engages
in the point media business; FXcoin, a startup founded by a former Deutsche
Bank employee; and, DeCurret, a cryptocurrency trading and settlement service
provider established in January 2018.
Money Forward is reported to be aiming to launch cryptocurrency
exchange services by the March-end 2019, and, according to CERES, Mercury has
been applying for cryptocurrency exchange registration since January 2018.
The JVCEA, Japan’s self-regulatory
cryptocurrency body, had only accepted membership from Type I members who have
been registered as cryptocurrency exchanges. However, the association started
accepting applications for Type II members on November 29, 2018. On January 4, the
association announced the addition of the following five companies: Coincheck,
a subsidiary of major online securities brokerage Monex Group; everybody’s ₿itcoin Inc., a subsidiary of Japan’s e-commerce
giant Rakuten; LastRoots, a company in which major online securities firm SBI
Holdings have invested and operating c0ban exchange; LVC, which is engaged in the
cryptocurrency business of major SNS provider LINE; and, COINAGE, a subsidiary
of UNITED, which is engaged in the advertising technology and game businesses.
More deemed exchanges that have not completed registration with the
Financial Services Agency (FSA) are expected to join the self-regulatory body
in the future.
The JVCEA is a self-regulatory cryptocurrency body set up on
April 23, 2018 with the aim of establishing industry-wide self-regulation among
cryptocurrency exchange operators. The JVCEA received the status of a
self-regulatory organization from the FSA in October. Chaired by Mr. Taizen
Okuyama, CEO of Money Partners Group, which is engaged in the foreign exchange
trading business, the JVCEA currently consists of 26 cryptocurrency-related
companies, including SBI Virtual Currencies, a cryptocurrency exchange operated
by SBI Holdings and GMO Coin, a cryptocurrency exchange operated by GMO
Financial Holdings, which is engaged in the online infrastructure business.
*This
article was written by Fisco
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Published at Wed, 06 Feb 2019 11:04:21 +0000
