Sources told Reuters the listed exchanges would form a self-regulatory body from April. Originally, they were planning to merge two existing industrial bodies that represent both registered and unregistered exchanges.
The Nikkei business daily said on Wednesday that the agency would set rules on issues such as exchange security and publicity and would impose sanctions on members who do not comply with policies.
Last year, Japan launched the world's first foreign currency surveillance system in an effort to protect customers and eliminate illegal uses of covert currencies while seeking to nurture a promising young sector.
The regulatory body has chosen relatively flexible rules to help care for the industry, often inhabited by emerging companies. The currency theft revealed flaws in the system, and for some experts, raised questions about the Japanese race to regulate industry amid the retaliation of countries from China to India.Bitcoin To Arab Bank Exchange BTC in Middle East Countries
The Nikkei business daily said on Wednesday that the agency would set rules on issues such as exchange security and publicity and would impose sanctions on members who do not comply with policies.
Last year, Japan launched the world's first foreign currency surveillance system in an effort to protect customers and eliminate illegal uses of covert currencies while seeking to nurture a promising young sector.
The regulatory body has chosen relatively flexible rules to help care for the industry, often inhabited by emerging companies. The currency theft revealed flaws in the system, and for some experts, raised questions about the Japanese race to regulate industry amid the retaliation of countries from China to India.Bitcoin To Arab Bank Exchange BTC in Middle East Countries
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