Japanese Regulator Officially Proposes Cutting Crypto Margin Trading Leverage Cap
Hisashi Oki's original article for cointelegraph.com reduced by 78%
The Japanese Financial Services Agency - the country's financial regulator - proposed lowering the leverage rate limit of cryptocurrency margin trading from 4x to 2x. The FSA announced the proposed measure on Jan. 14 in a cabinet office ordinance - an official order that is issued along with a new law.
If enacted, the proposal would be a first for the Japanese government in regulating the rate of crypto margin trading. Data from the Japan Virtual Currency Exchange Association - the official self-regulatory organization for the crypto industry in Japan - shows that the volume of leveraged, margin and futures trading for crypto was far higher than that of spot trading in Japan from April 2017 to March 2018.
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CN [too long; didn’t read]
Summarised crypto news.