The Japan’s Virtual Currency Exchange Association (JVCEA) is self-regulated collaborative body of 16 Japanese exchanges, all of which are registered under the nation’s Financial Services Agency (FSA). Set up in April this year, the organization was founded to strengthen the regulatory framework surrounding Japanese cryptocurrency exchanges. CEO of Money Partners, Taizen Okuyama, was appointed to spearhead this new group.
On April 23, the JVCEA held its first meeting to address core issues surrounding crypto exchanges, concluding that there is an urgent need to address customer protection and security.
The new guidelines are alleged to be announced on June 27, and include new measures such as banning privacy coin trading across all exchanges to prevent money laundering as well as banning insider trading.