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The news follows the approval of the self-regulation of trade, which had already spoken of it.
The Financial Services Agency of Japan (FSA for its acronym in English) put a ceiling on the leverage available to operate with a cryptographic margin to curb speculation and the risk.
According to Nikkei the financial market regulator is currently considering the possibility of limiting the leverage of traders with cryptographic margins to two to four times their deposits.
There is currently no rule specifically governing the trading room with margin ( Margin Trading ). The report adds that the number of cryptocurrencies in Japan is 25 times higher. This means that traders can borrow crypto-currencies up to 25 times the value of the deposit through an exchange, however, a decrease of only 4% in the cryptographic badets purchased would eliminate the initial deposit.
Nikkei [1259007] Seven of the 16 bags authorized by the FSA now offer services of this trade, adding that a group consisting of FSA officials and industry experts is now willing to discuss ways of imposing regulations in this area. 19659003] The news follows the statistics published by the FSA, which indicated that the cryptocurrency of margin trading had grown rapidly in Japan. For example, more than 80% of the total volume of Japanese cryptocurrency in 2017 came from the $ 543 billion trade in derivatives. More than 90% of this came from margin trading.
Earlier this year, Japan Association, JVCEA, self-regulatory organization formed by the 16 authorized trading platforms in Japan, in a hurry to set 4 times the maximum deposit.
"It is only an interim measure – I do not think that a proportion of 4 is sufficient" ] said Taizen Okuyama, chairman of the badociation, quoted in the report.
Yesterday, the FSA formally approved JVCEA as "Certified Commercial Cash Settlement Association", . means that he now has a legal status to monitor national cryptocurrency exchanges.
Source: CoinDesk
Translation of DiarioBitcoin
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