According to Japanese news Agency Asahi Shimbun, 24 April 16 kryptomere registered with the Japanese financial services Agency (FSA), formally established the self-regulatory organization called the Japanese Association of cryptocurrency exchanges (Japanese Cryptocurrency Exchange Association, JCEA).
The Association said that their main task is to restore confidence in the industry. This will be developed comprehensive rules aimed at protecting customers and improving internal control. The organization will monitor compliance, and violators will be charged fines.
«I will make every effort to improve the security of exchanges. You must also implement internal controls, if we want to restore public trust and return customers to the exchange. We need to work on the development of a healthy market,» said elected Chairman of the Association of head Money Partners, Taizen Okuyama (Taizen Okuyama).
In addition to Money Partners, a new Association of kryptomere entered: Quoine, Bitflyer, Bitbank, SBI Virtual Currencies, GMO Coin, Bittrade, Btcbox, Bitpoint Japan, DMM Bitcoin Exchange Bitarg Tokyo, FTT Corporation, Bitocean, Fisco Virtual Currency, the Tech Bureau and Xtheta.
Okuyama assured that despite the fact that the country still has more than a dozen kryptomere without a licence from FSA, these companies will be able to contact the organization for advice and assistance.
«The importance of the development of the industry as a whole», — concluded the head of the JCEA.