Eighteen companies are requesting the new license required to operate a crypto-currency exchange in Japan. The licensing regime, introduced by Japan in April, aims to ensure that exchanges operate in full compliance with financial regulatory procedures and fraud .
As a result of the applications, some of which come from existing exchanges such as BitFlyer, ten new players are scheduling to debut in the market and meet an expected increase in demand.
These companies include SBI Holdings' SBI virtual currencies, GMO Internet, Kabu.com Securities and Money Partners Group, according to Nikkei reports.
Those companies will have to face really strict regulations, because Japan is known about precision and rules, orders, etc. If the exchanges want to "legalize" themeselves in Japan, it won't be so easy. If they were working in the shady area, they will have to come out to the light, and if they were not forcing the KYC and AML regulations hard enough yet, they will have to implement it and I think Japan regulations and the control is strict enough to force them to act like that. For the bigger ones, it shouldn't be a big problem.