Japanese financial services Agency (FSA) has published a list of requirements for “suppliers of cryptocurrency services.” The regulator expects that operators kryptomere will follow these rules themselves, or under the supervision of the Japanese Association of exchanges of virtual currencies (JVCEA).
Service providers are required to have reserve funds to cover the losses of users from hacker attacks. They also need to develop a “structure, giving customers the right to a statutory mortgage deduction, providing they are deposited virtual currency”.
The operators of the exchanges have to disclose their financial statements and trading information. While companies are not allowed to promote and encourage speculative trading.
The size of leverage for margin trading will be limited, depending on the volatility of a particular cryptocurrency. Service providers will be required to notify clients about the risks of digital assets.
Previously, we were told that the second largest Bank of Japan plans to release stablein, provided the Japanese yen.