Japan’s financial regulator- Japan’s Financial Services Agency (FSA) so far has approved a total of 21 crypto exchanges to operate in the country.
Lastroots Is the Latest Exchange To Be Approved By The Regulator
The financial regulator approved the only remaining “deemed cryptocurrency exchange” last week- Lastroots.
Lastroots became the 21st FSA-approved crypto exchange operator in the country. Established on June 2, 2016, Lastroots launched a cryptocurrency exchange in March 2017. With over 49 employees, Lastroots currently engages in crypto exchange as well as business development using blockchain technology.
It’s crypto exchange, C0ban, allows customers to trade the C0ban token (RYO) against the yen.
As of yet, Lastroots only supports the trading of RYO according to the FSA’s website.
“We will develop simple remittance solutions both in Japan and overseas. In particular, international remittances currently require extremely high fees, but we will lower the cost to the limit and aim for creating infrastructure for people in emerging countries such as Asia.”
Lastroots is a member of two crypto associations in Japan:
- The Japan Virtual Currency Exchange Association
- The Japan Virtual currency Business Association
Rest of The Registered Crypto Exchanges
Japan after legalizing cryptocurrency as a means of payment, the FSA started approving crypto exchanges. Including Lastroots, 21 have been registered in total.
The first 11 exchange operators were registered on Sept. 29, 2017. They were:
- Money Partners
- SBI VC Trade
- GMO Coin
- Huobi Japan
- Bitpoint Japan
- Fisco Cryptocurrency Exchange
- Tech Bureau
On Dec. 1, 2017 the following exchanges were registred:
By June 2018, there were a total of 16 deemed crypto exchange operators in Japan. Two months later, only three were left after the FSA tightened its oversight of the industry. The three were:
- Everybody’s Bitcoin (Now registered newly as Rakuten Wallet)
The rest were either rejected by the FSA or voluntarily withdrew their applications.
On March 25, 2019 the following were registered:
Lastroots became the latest to be approved by the FSA.
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