China banned initial coin offerings, a red-hot cryptocurrency-based fundraising method, earlier in September, and since then there have been numerous reports of a wide-ranging crackdown on exchanges.
In April, Japan deemed Bitcoin, the largest cryptocurrency by market cap, as a legal form of payment .
The move by Japan could help cement the country's position as a leading market for cryptocurrencies.
And since China banned ICOs on September 4, Japan has emerged as the largest market for bitcoin trading.
- Breakingviews - Crypto-currencies' strength becomes their weaknessReuters
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- Japan's FSA gives official endorsement to 11 cryptocurrency exchangesReuters
- As China cracks down, Japan is fast becoming the powerhouse of the bitcoin marketCNBC
- Japan Issues Licenses for 11 Bitcoin ExchangesCoinDesk
- Japan FSA Grants Virtual Currency Exchange License To 11 CompaniesCoinJournal (blog)
- Financial Services Agency in Japan Officially Recognizes 11 Cryptocurrency ...Crowdfund Insider
- Cryptocurrency Exchanges Get Nod to Operate in First for JapanBloomberg
- Japan's top bitcoin company bitFlyer and others receive their exchange licenseCryptoNinjas