The Japanese Financial Services Agency (FSA) received 190 cryptocurrency exchange license applications, an unnamed FSA staff member told Cointelegraph Japan on Dec. 28.
The FSA has given the local crypto industry self-regulatory status, certifying the Japanese Virtual Currency Exchange Association (JVCEA) to oversee the space. The JVCEA is now expected to develop anti-money-laundering (AML) policy and providing guidelines to crypto exchanges.