Japan Grants Strong Regulatory Authority to A Cryptocurrency Exchange Association

The Japanese self-regulatory organization, Japan Virtual and Crypto Assets Exchange Association (JVCEA), has been delegated regulatory authority from the government, determining not only sales but also listing items on exchanges. On the other hand, the role of the Digital Asset eXchange Alliance (DAXA) in Korea is deemed unclear. Partner attorney Ohoon Kwon underlined the fact that there is no advantage or disadvantage for exchanges when following or violating the standards set by DAXA. He commented, “We must support self-regulation in a way that legally recognizes the association and creates a basis for it.”

URL: Japan Grants Strong Regulatory Authority to A Cryptocurrency Exchange Association