Japan's Financial Services Agency doubles leverage on cryptocurrency margin trading

Japan's financial regulator, the Financial Services Agency (FSA), has confirmed that it has doubled its cryptocurrency margin ratio. The move is based on the revised Cabinet Regulations of the Financial Instruments and Transactions Act, which will take effect in spring 2020. The self-regulatory body approved by the FSA, the Japan Virtual Currency Association (JVCEA), has formulated self-regulatory rules that have reduced the leverage limit of virtual currencies from 15 times to 4 times, and have been adopted by various currency exchanges, The revised Financial Services Act, which will take effect in the spring, restricts leverage.