It is always good to see more cryptocurrency exchanges open their doors. Te Japan, that process is not spil plain spil it seems. Every exchange needs explicit approval and a license from the Japanese Financial Services Agency. So far, several companies successfully received their license already. Four fresh exchanges have now undergone the same process and are officially constitucional.
Ter Japan, Bitcoin and other cryptocurrencies operate on a very different level. The currency is procesal tender and merchants like what Bitcoin has to offerande. The surplus of the world is well behind the curve te this regard, which isn’t exactly surprising. Moreover, the country is huis to many different cryptocurrency exchanges. Four fresh platforms have now received their license to operate legally ter the country. This brings the total to Five approved trading platforms, with more to go after.
More Licensed Exchanges ter Japan
It is good to see so many approved exchanges. Albeit they mainly operate within Japan, some may seek to expand. bitFlyer is one of the licensed companies targeting the US market te the near future. It would be good to see some companies come to Europe. So far, Europe has lacked a competitive cryptocurrency trading verhoging ecosystem. Bitstamp only supports four currencies and kraken’s infrastructure is too horrendous to work with.
For the Japanese exchanges, things will get a loterijlot more interesting. Now that a few fresh platforms are licensed, there is more market competition. For Bitcoin enthusiasts, this should result ter lower trading fees and different deposit and withdrawal methods. How all of this will play out, will become more clear ter the following months. Three of the four companies will trade Bitcoin only, whereas one will also concentrate on select altcoins.
Moreover, the Japanese FSA is reviewing even more exchange applications spil wij speak. Around a dozen companies are te the process of getting their license spil wij speak. It is overduidelijk things will get a loterijlot more competitive ter the very near future. An open and semi-transparent legislative framework permits for massive cryptocurrency growth te the country. Wij can only hope to see other countries take a similar treatment te the future. Right now, that seems very unlikely, tho’.