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110 Crypto Exchanges Are Reportedly Trying to Get Licensed in Japan

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Japan’s interminable winter for cryptocurrency exchanges seems to have thawed.

The Financial Services Agency (FSA), Japan’s top financial watchdog, told crypto news site Bitcoin.com that 110 exchanges are in “various stages of registration.”

In 2018, the FSA, did not grant approval for any crypto exchanges to begin operating in the country. The year prior, the agency had approved 16 new exchanges.

Additionally, in 2018 the FSA began issuing “improvement orders” to preempt potential cases of fraud or KYC noncompliance and started conducting on-site inspections.

“BitFlyer, amongst other top exchanges in Japan, received the improvement order based on a changing ...

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