The ‘FSA’ FinancialServices Agency hosted its 5th studyclustermeeting on digital currencies yesterday, i.e on 12th Sept. which included several trading platforms, scholars, lawyers, along with the govt. officials.
The vice commissioner for policy coordination at the FSA ‘ Kiyotaka Sasaki,’aforesaidthat the authority is presently employing around thirty officials forthe generalover all crypto-related activities,as well aslicense registration review.
Adding further the vice commissioner said that the FSA is also going toadd twelve additional officials for theyear 2019to yield higherand better expansionof the cryptocurrency exchangebusinesses.
As per a local news reporting by ‘Reuters,’ an official document has been revealed after the meeting stating that the FSA has been reviewing16 differentcaseswhileovermore than 150 severalcompaniesare planning to submit applications for the crypto exchanges licenses.
According to the FSA, twelveof thesixteenfirmsreviewed withdrew their applications astaughtby the regulator while rejecting an application of one exchange. However, Coincheck,isstillwatching forafinal judgment.
Data compiled by the FSAmoreindicatedthe govtagencyisn’tthe soleentitythat’shandlinga shortage ofworkerson cryptocurrency.
Mentioning further FSA said that:
“Many exchangesaremanaginghugeamounts of user assets withjust a littleteam i.e around $30 Mln perworkerin average.”
However, as per the recent data, whilethetotal assets Japanese crypto exchanges hold for investors have been exaggeratedby more than 500 %over the past few year but more than 75% of them have a team of just around 20 people only.