2 Japanese Exchange Execs Left JVCEA After FSA Actions

As reported, two vps of the Japan Virtual Currency Exchange Association have left the organization
26 June 2018   235

The CEO of the Japanese currency exchange bitFlyer, Yuzo Kano, and the Bitbank CEO, Noriyuki Hiroyuki, left the posts of the chairmen of the Japan Virtual Currency Exchange Association (JVCEA). This is reported by ETHNews.

According to the Association's official website, earlier both exchanges received instructions from the Financial Services Agency (FSA) on improving anti-money laundering practices.

[Organization] will continue to do [its] utmost to protect the interests of users and to promote the sound development of the virtual currency exchange industry, including the early establishment of voluntary regulation rules.

Japan Virtual Currency Exchange Association

It is noted that despite the resignation of Kano and Hiroyuki, both exchanges remain members of the Association.

The names of the contenders for the posts of the new JVCEA chairmen are not yet named.

Earlier in June, the Japanese currency exchange bitFlyer temporarily suspended registration of new users because of FSA requirements on mandatory verification of customers.

BitFlyer to Ban Market Manipulators Accounts

The registration of new accounts on bitFlyer is still suspended at the request of the local financial regulator
30 July 2018   178

The largest Japanese cryptocurrency exchange bitFlyer warned its users about possible accounts ban, caught in market manipulation. This is reported by Bitcoin.com.

In accordance with our Terms of Use, we may freeze accounts observed to have intentionally performed market manipulation or other forms of maliciously setting market prices. We will continue to do our best to build a sound trading environment.


Meanwhile, the registration of new accounts on bitFlyer is still suspended at the request of the local financial regulator. The latter insists on the implementation of 10 measures aimed at "a cardinal increase in the efficiency of business operations and management systems."

However, against the background of some problems with bitFlyer, the first serious success was reported by another Japanese exchange - GMO Coin. According to its representatives, the company managed to receive operating profit of 1,612 million yen (approximately $ 14.5 million) in the second quarter. At the same time, in the first quarter of this year, crypto-exchange has registered a certain loss, which in GMO Coin is associated with a decline in activity due to a significant decline in the prices of digital assets.

As for the Coincheck, which soon after the hack was taken over by the online broker Monex, its full-fledged restart is planned for August.