On March 22, it was reported that the Japanese cryptocurrency exchange plans to simplify the listing process of new cryptocurrencies in order to increase its competitiveness against foreign cryptocurrency exchanges. The Japan Virtual Currency Exchange Association (JVCEA), a self-regulatory body of 31 homegrown crypto exchanges, is preparing to release a “green list” of 18 mainstream cryptocurrencies by the end of March, Nikkei reported on Tuesday.
The green list is designed to avoid Japanese cryptocurrency exchanges having to screen cryptocurrencies through the JVCEA every time they list cryptocurrencies on their trading platforms. Digital assets on the green list will no longer be subject to scrutiny, the JVCEA reportedly said.
The upcoming green list will include some of Japan’s most actively traded cryptocurrencies, such as BTC, ETH, XRP, and LTC, among others. The conditions for joining the green list include being listed on three exchanges in Japan, and at least one of them must be listed on the digital asset for at least 6 months.