Japan clamps down on margin cryptocurrency trading

19.03.2019 / 01:31

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Japanese financial authorities will expand on already pioneering rules for cryptocurrency trading to bring further order to one of the world's biggest virtual currency marketplaces.

The cabinet on Friday approved draft amendments to Japan's financial instruments and payment services laws, which would cap leverage in virtual currency margin trading at two to four times initial deposits. The new limits are in line with standards are similar to those in foreign exchange trading.

All cryptocurrency exchanges that handle margin trading will be required to obtain new government registration. This will be separate from an existing registry that focused mainly on cash platforms created in 2017, part of a first-of-its-kind legal framework that recognizes cryptocurrency as legal tender.

picture: pixabay.com

Trader Aleksandar Kumanov

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Japan clamps down on margin cryptocurrency trading

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