Digital currency exchange in Japan
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at present, there are few countries in the world that issue supervision licenses for digital currency asset transactions, such as austrac license in Australia, MTR digital currency transaction / wallet license in Estonia, token license in Thailand and jvcea virtual currency transaction license in Japan
among the digital currency trading licenses in the above countries, Japan and Thailand have too high qualification requirements, and few exchanges or indivials meet the qualification requirements
Australia austrac and Estonian MTR can basically meet the qualification requirements. However, after the amendment of Estonian act on March 10, 2020, and the promulgation of the act on qualification, capital verification and local actual office space, the application cycle will be extended accordingly
at present, only ausrac in Australia is the most suitable license for digital currency asset trading license. It does not need capital verification, certificate fee and local office address. The application cycle is short and the qualification requirements are low. It can basically meet the qualification requirements. It has high international reputation and is the most cost-effective license at present. It can be considered directly
Binance exchange, with rapid development, has become one of the top five exchanges in the world in just half a year. Unlike idcm.io, which was the first to support vhkd, binance directly issued its own token BNB and launched the exchange
advantages: large trading volume; Support multiple computers and mobile phones; Multi language support; More currencies: 99 cryptocurrencies such as BTC, ETH, LTC and BNB are supported, 235 paired trading markets are available, and the service charge is low; It's faster to recharge and withdraw money
disadvantage: they have no futures and OTC trading, and only support currency trading, and stopped the service to domestic users some time ago, so domestic users need to choose carefully. At the same time, because binance is an exchange trading platform, it cannot be traded directly with legal currency, so it needs to use other platforms to buy cryptocurrency
it's not very convenient to recharge it to coin an network. In addition, in February and March of this year, binance suffered serious security incidents and hackers' leek cutting attacks, and its security performance was questioned
extended information:
the process of digital currency trading through the platform is as follows:
(1) investors should first register accounts, and obtain digital currency accounts and US dollar or other foreign exchange accounts
(2) users can buy and sell digital currency with the money in their cash account, just like buying and selling stocks and futures
(3) the trading platform will sort the buying requests and selling requests according to the rules and start to match them. If they meet the requirements, the transaction will be concluded
(4) e to the difference between the buy and sell volumes submitted by users, a buy or sell request may be partially executed
the mode of digital currency trading through operating companies is as follows: take Ruibo coin as an example, Ruibo coin is operated by professional operating company opencoin, ripple protocol was originally designed based on means of payment, and the design idea is based on acquaintance network and trust chain
to use ripple network for remittance or loan, the premise is that in the network, the payee and the payer must be friends (mutual trust relationship is established), or have common friends (trust chain is formed through the transmission of friends), otherwise the trust chain between the user and other users cannot be established, and the transfer cannot be carried out
the ranking of digital currency exchanges is from low to high, including bithumb, okxe, binance, bitmex and coin win national stationsbitcoins, accounting for about 10% of the global bitcoin trading volume. It promises to provide the lowest handling fee in the world. Bithum accounts for 75.7% of South Korea's bitcoin market, 10% of the global bitcoin market, and 50% of South Korea's Ethereum market
note:
1. Asset security is very critical. You can distribute your bitcoin or other currencies through exchanges, online wallets, hardware wallets and paper wallets, so that you won't lose all your assets when attacked or lost by hackers. The secret key information must not be placed in the mailbox or other unsafe online software
2. Whether it is EOS, etc, BTC, LTC, or other platform currencies, in addition to bitcoin itself has been given the attribute of digital currency gold, other currencies are more related to the application and landing of blockchain instry. Pay more attention to and analyze the trend and ecological construction of blockchain instry, so as to return to the original intention of blockchain value investment, It will also be a way to avoid risks
the FSA said that it would put Japan's digital currency exchange under a comprehensive regulatory framework, including monitoring the internal system of the exchange, checking the customer asset protection mechanism, and possible on-site inspection. At the same time, the FSA requires digital currency exchanges including bitcoin to implement a more stringent KYC policy than at present. Exchanges must begin to verify the identity of account users, keep transaction records, and report suspicious transactions to regulators
the conditions for the registration and establishment of Japanese digital currency dealers:
the establishment of a Japanese corporate company
leasing Japanese office
three Japanese employees are employed, one of whom is a director of a Japanese company
Japanese companies open bank to company accounts
there is a normal trading system (Japanese version is not required)
provide KYC information (specifically prepare the government information list)
the services include company registration before obtaining the license, assistance in leasing office space, assistance in recruitment of company employees, preparation of audit reports in cooperation with accounting firms, AML and KYC reports, business plans, all compliance documents to be submitted to FSA prepared with Japanese law firms, and answering all questions raised by FSA
in the process of obtaining a digital currency dealer license and in the process of future operation, traders must employ at least three employees, at least one of whom has a digital currency or bitcoin background or financial background
follow up maintenance: first, ensure the normal operation of the Japanese office and the daily work system of employees. Annual financial and audit reports should be submitted to the financial department of Japan every year. The contents of the reports are large, including the transaction details of virtual currency, the number of customers, the number of traders, the handling fees, the amount of customers' funds, etc. After obtaining the license, all the operation related expenses need to be paid by the dealer.
the ranking of digital currency exchanges is from low to high, including bithumb, okxe, binance, bitmex and coin win national stations extended information: note: 1. Asset security is very critical. You can distribute your bitcoin or other currencies through exchanges, online wallets, hardware wallets and paper wallets, so that you won't lose all your assets when attacked or lost by hackers. The secret key information must not be placed in the mailbox or other unsafe online software 2. Whether it is EOS, etc, BTC, LTC, or other platform currencies, in addition to bitcoin itself has been given the attribute of digital currency gold, other currencies are more related to the application and landing of blockchain instry. Pay more attention to and analyze the trend and ecological construction of blockchain instry, so as to return to the original intention of blockchain value investment, It will also be a way to avoid risks
Japan has developed into the largest bitcoin trading market this year, and about 50% of bitcoin transactions are concted through bitcoin / yen.
the market depth of these exchanges is very large, and they are all the top exchanges in the world. Of course, there are all kinds of problems, especially security problems
these exchanges basically support mainstream digital currencies such as bitcoin, Ethereum, wikilink and lightcoin.