Crypto News: Japan has taken a key step to cement its position as a leader for cryptocurrencies

China is moving forward with a plan to crack down on cryptocurrencies, but Japan is singing a different tune.

Japan's Financial Services Agency on Friday granted 11 cryptocurrency exchanges licenses to legally operate in the country, according to reporting by The Wall Street Journal's Paul Vigna and Gregor Stuart Hunter. The news comes amid a crackdown on digital currencies by Japan's neighbors.

China banned initial coin offerings, a red-hot cryptocurrency-based fundraising method, earlier in September, and since then there have been numerous reports of a wide-ranging crackdown on exchanges. On Friday, South Korea joined China in banning ICOs.

Licensed exchanges, according to The Journal, will be required to conform to some rules to maintain their status.

Full story at http://read.bi/2wr9No0

Source: Business Insider Nordic

 

 

 

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