Government-approved cryptocurrency trading platforms in Japan are undergoing changes with big players entering the market. News.Bitcoin.com talked to Japan’s top financial regulator to learn about the regulatory implications of the changing business models and internal systems of regulated exchanges.
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Changing Crypto Exchange Landscape
Crypto exchanges in Japan are rapidly transforming with the launch of new exchanges as large corporations entered the market. Japan’s top financial regulator, the Financial Services Agency (FSA), explained to news.Bitcoin.com Monday that when a crypto exchange is acquired by another company:
There is no need to re-register. If its business model or internal control system are to be changed, FSA will rigorously review them from the perspectives of user protection and others.
The agency further clarified, “If there are changes of entries (such as major shareholders or board members) in the registration…