Japan Financial Services Agency: The company's acquisition of an encrypted exchange does not require re-registration, but changes to the business and internal management structure exceptions

On April 24, according to Bitcoin.com, Japan’s market regulation of cryptocurrency has changed a lot. The Financial Services Agency (FSA) told reporters that when a company acquires a crypto exchange, it does not need to re-register. FSA will only scrutinize them from the perspective of user protection and other aspects if they want to change their business model or internal management structure. The FSA also said that the recent checks on the two exchanges were also due to changes in their major shareholders, Huobi Japan recently acquired the Bittrade exchange, and the Fisco Cryptocurrency Exchange acquired Zaif. In addition, when more than 19 cryptocurrencies are approved for online cryptocurrency, they need to be approved by the regulatory authorities.