16 cryptocurrency exchanges that have been approved by the Japanese government are teaming up to form a self-regulatory group, following the hack of one of the country’s most popular exchanges. Besides these exchanges, there are 16 “quasi-operators” for cryptocurrencies as well as about 100 firms seeking to enter the market in Japan. Exchange forms a self-regulated body 16 Cryptographic exchanges approved by the government that form a self-regulated organization in Japan Japan does not currently have a self-regulatory body. However, after the great piracy of one of the most popular encryption exchanges in the country, the need for self-regulation in the country has increased. Coincheck was pirated for 58 billion yen (~ 530 million US dollars) from the NEM cryptocurrency in January. After the piracy, the Financial Services Agency of Japan (FSA) began to examine all the exchanges that operate in the country. The agency is also urging industry players to adopt self-regulatory sta