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Japan clamps down on margin cryptocurrency trading

Exchanges that fail to register under incoming rules will be shuttered

Japan has one of the world's most advanced legal frameworks on cryptocurrency.   © Reuters

TOKYO -- Japanese financial authorities will expand on already pioneering rules for cryptocurrency trading to bring further order to one of the world's biggest virtual currency marketplaces.

The cabinet on Friday approved draft amendments to Japan's financial instruments and payment services laws, which would cap leverage in virtual currency margin trading at two to four times initial deposits. The new limits are in line with standards are similar to those in foreign exchange trading.

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