Japans primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?
This is very interesting. I also think it is the best thing for the cryptocurrency. I believe this decision taken in Japan will limit the government's direct influence or control in the country while still ensuring that their is a regulation. This similar arrangement should also be implemented in other jurisdictions.