The Japanese Financial Services Agency (FSA) only approved two new exchanges this week from the 140 exchanges eager for approval. The two new cryptocurrency exchanges include Rakuten Wallet Co. Ltd and Decurret Co. Ltd.
19 Total Approved Exchanges
The FSA also revealed that it took them an estimated six months in order to complete the requirements for the main valuation process in order to be registered as a dealer and broker of cryptocurrency assets. As of now, only 19 exchanges have been approved in Japan.
The approval of Rakuten Wallet Inc. was celebrated by the company, as they are now officially considered as virtual currency exchange. Rakuten Group has more than 70 Internet and Fintech services throughout 30 different countries, and 1.3 billion registered users worldwide.
Additionally, Decurret made an announcement on March 25 that it finally completed the registration process as a crypto exchange service, and now aims to be the major banks’ standard for digital currency transactions.