Japanese Exchanges Form Self-Regulatory Body, #BitPay to Adopt #Bitcoin Cash and Market Continues to Grow
News outlet Asahi Shimbun reported today that 16 cryptocurrency exchange companies in Japan joined have joined to form a self-regulatory body. The 'Japanese Cryptocurrency Exchange Association' will work together with Japan's Financial Services Agency (FSA) to make sure businesses comply with government protocol. In the report, members of the new body outlined their goals of regulation and making the crypto market safe for investors:
"All 16 registrants belong to the new organization "Japan Virtual Currency Exchange Industry Association". Mr. Takezu Okuyama, President and CEO of Money Partners, said at a press conference, "I will make sure that security measures and internal control are in place, I will promote the arrangement of transaction rules and advertisements, promptly arrange the information to disclose, "We want to eliminate customers' concerns and work to restore confidence in order to develop healthy markets."
BitPay, a cryptocurrency payment service provider, has announced in a blog post that it plans to make Bitcoin Cash (BCH) available for brick and mortar transactions.
"This new version improves the app's design and performance, adds Bitcoin Cash (BCH) acceptance, and adds BitPay's changes for Payment Protocol-only payments and other invoice updates. Now brick and mortar businesses can accept error-free Bitcoin and Bitcoin Cash payments in a flash from customers, with no risk of cryptocurrency price volatility."
At press time the cryptocurrency total market cap is sitting at $425 billion USD, which is a full $25 billion USD increase in the last 24 hours. Bitcoin's (BTC) market dominance has dropped one percent to 37 percent overall and is trading at around $9300 USD. The drop in market dominance is partially due to the impressive growth of altcoins like Ether (ETH), Ripple (XRP) and Bitcoin Cash (BCH), which are the second, third and fourth biggest cryptocurrencies respectively.
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