It is known that there is no requirement to have any license in order to trade on the stock exchanges. However, having a regulator in the industry, in other words, having the licenses of the companies concerned will not only strengthen the innovations but also help fight against fraud. Authorities of the Financial Services Agency noted the following statements on the subject: "With the new regulation, the government aims to meet the needs of supporting financial technology companies and protecting investors in a timely and coordinated manner." To have a license, companies have to fulfill a few strict requirements. These requirements include applications such as separating client accounts and establishing powerful computer systems. With the help of this move, industry officials believe that Japan will further strengthen its position, which can be described as the largest bitcoin stock exchange. It is known that the Japanese government recognized Bitco as the legal payment method in April this year. This arrangement can also be seen as an attempt to avoid another Mt.Gox scandal. As known by Bitcoin enthusiasts, Tokyo-based BitCoin stock exchange Mt.Gox was once the world's largest stock exchange of bitcoin. But when the $ 480 million bitcoin disappeared, Mark Karpeles, the founder of the stock exchange, took a decision to stop all operations in 2014. Karpeles used data manipulation and corruption as a justification. All these living developments followed very bad results. The Financial Services Agency also noted that it has examined 17 other applications submitted by pending companies that have been approved and not admitted.
