Backpack Exchange becomes the first JVCEA member in two years

According to BlockBeats, on December 10th, the global compliant cryptocurrency trading platform Backpack officially registered as a second-class member of the Japan Virtual Currency and Cryptocurrency Exchange Association (JVCEA). This membership marks a further step for Backpack to become a Japanese virtual currency trading service provider and move towards obtaining a full license. Since Binance Japan became a member of JVCEA in October 2022, there have been no new members joining the association for two years. Japan is one of the first countries in the world to establish a comprehensive regulatory framework for cryptocurrency exchanges. As a self regulatory organization under the Japanese regulatory framework, JVCEA has put forward strict requirements for key areas such as customer protection, anti money laundering, and operational security.