Japan formulated the new self-regulatory organization designed to restore investor confidence in kriptonyte, after a major theft from the stock exchange Coincheck
in the beginning of 2018. The organization consisting of 16 Japanese cryptocurrency exchanges, the establishment of which was announced two weeks earlier, will begin work April.
The proposal to create a new body of samoregulirovaniya advanced Japanese Association of cryptocurrency trading (JCBA) and the Japanese Association of blockchain (JBA), two organizations that bring 16 kryptomere, received permission from the FSA, the Agency for financial services of Japan.
Wasilewski a new, not yet named organization, will be Chairman of the JCBA and the head of the company Money Partners Group, Taizen Okuyama (Taizen Okuyama). His zamestitelem appointed Yuzo Kano (Yuzo Kano), CEO of bitFlyer and head of the JBA.
The main tasks and goals of the organization is to achieve self-regulation of the entire cryptocurrency sector, said Okuyama. It will install the necessary safety standards, will develop the principles of the ICO, as well as ensure compliance by all members of the community.
The organization is ready to cooperate with the exchanges that have not yet been approved by the FSA. Such exchanges in Japan, too, sixteen and among them Coincheck lost as a result of hacking more than 500 million tokens XEM. The exchange continues to work and recently resumed withdrawals. To affected customers the exchange’s management promised to pay compensation, the volumes of which are still unknown.
Note that after the robbery of the exchange Coincheck regulator demanded to improve measures of cryptobatrachus and strengthen the scheme of the internal management of all cryptocurrency companies.