Japan Roundup: No Excessive Crypto Regulation, Quoine Launches New Platform


A new association has been established in Japan called the Japan Cryptocurrency Practitioners Association (Jcpa). The chairman is tax accountant Hirakawa Shigeru. The association holds educational seminars and provides business consulting services.

Japan already has three major industry associations. One is the recently established Japan Virtual Currency Exchange Association whose members are all of the licensed crypto exchanges in the country. The other two prominent associations are the Japan Blockchain Association and the Japan Cryptocurrency Business Association. Toshihide Endo, FSA’s Deputy Director-General, told Reuters in an interview on Wednesday that “the FSA was trying to strike a balance between protecting consumers and promoting technological innovation.”

Fully-licensed Japanese cryptocurrency exchange Quoine is rolling out its new platform, Liquid. Both of the exchange’s trading platforms, Quoinex and Qryptos, will be migrated to Liquid on September 4. The migration is expected to take up to 24 hours.

Liquid is open to everyone except the previously excluded citizens of countries on the Financial Action Task Force high-risk list. “US customers won’t have access to fiat pairings and Japanese customers will only have access to currencies and services approved by the Japan Financial Services Agency (FSA).