Houbi Japan completes registration as first-class financial instruments business operator
Houbi Japan Co., Ltd., the Japanese subsidiary of crypto exchange Houbi, announced on the 17th that it has registered as a “first-class financial instruments business operator” based on Japan’s Financial Instruments and Exchange Act.
Upon completion of the registration process, the company now has plans to start applying for the crypto asset margin trading service ‘leverage trading’, which is an over-the-counter derivative transaction under the Financial Instruments and Exchange Act.
The deadline for obtaining a first-class financial instruments business operator license was October 31 and those domestic exchanges who failed to meet the deadline would have to suspend the margin trading service.
On the 14th, it was announced that bitFlyer, a major Japanese exchange, was registered as a first-class financial instruments business operator.
With the registration of Houbi Japan, the number of cryptocurrency exchanges registered in Japan is now seven, including GMO Coin, DMM Bitcoin, Rakuten Wallet, TAOTAO, BitPoint, and bitFlyer.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow