TechFlow news, according to CoinDesk, Backpack, a global compliant cryptocurrency exchange, has officially registered as a Class 2 member of the Japan Virtual and Crypto-Assets Exchange Association (JVCEA).
This membership marks a significant step forward for Backpack toward becoming a licensed virtual currency trading service provider in Japan and progressing toward full licensure.
Notably, no new members have joined JVCEA since Binance Japan became a member in October 2022—two years ago. Japan was among the first countries globally to establish a comprehensive regulatory framework for cryptocurrency exchanges. As a self-regulatory organization operating under Japan's regulatory system, JVCEA imposes strict requirements on key areas such as customer protection, anti-money laundering, and operational security.
