Home Column Japan Cryptocurrency User Association(JCUA) ②

Japan Cryptocurrency User Association(JCUA) ②

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  • Supports Crypto Users
  • Plans Cryptocurrency User Qualification Test

Japan Cryptocurrency User Association(JCUA) has been established on May 22 2018 as a way to support crypto users for safer trading.
The cryptocurrency industry has grown through different events, accidents and incidents.
In Japan, 16 firms, received the license from Financial Services Agency(FSA) as cryptocurrency Exchange, established “Japan Cryptocurrency Business Association (General Incorporated Association)” on March 29 2018, aiming to be certified as Voluntary Restraint Institution of Article 87 of Fund Settlement Law by installing rules and recovering trust.
However, JCUA believes that there is an urgent need for the current system allowing relative transaction and ICO (Initial Coin Offering) , which does not require authorization and registration, to be safer for traders or participants.  
JCUA would make remarks and discuss about opinions raised by experts regarding user protections and problems within the system. JCUA believes that the cryptocurrency and blockchain industry will advance, while looking ahead IoT and AI.
A certificated trader license would be aldo needed, as seen by other organizations and industries. Those license holders, with basic knowledge and rules, would make trades safe and the license system would prevent money launderings, along with crime and fraud.     
So, JCUA is planning to hold Cryptocurrency User Qualification Test (Tentative) to protect users and increase safeness of trades. The Association will be holding workshops, information sessions and meetups from the perspective of users.
JCUA will be recruiting members to manage the cryptocurrency industry through the association. Finally, the protection of users is the most important aspect such as protection from money laundering. JCUA, aiming not only an inevitable organization in Japan but also in overseas, would be part of managing the industry allowing trading to be done safely, growing the cryptocurrency industry in the right direction and developing the blockchain technology.