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.
I knew another source that said japan's FSA gave the cryptocurrency industry self-regulatory status, permitting the japan virtual currency exchange to police and sanction exchanges for any violations. In essence this policy is very good
Do you think we'll see this happening in other countries anytime soon?
I think yes, every country should improve security for cryptocurrency users so this step should be taken.