31 Regulated Japanese Cryptocurrency Exchanges to List Ripple (XRP) By Month End

31 Regulated Japanese Cryptocurrency Exchanges are going to get a green list to list 18 cryptos including Ripple (XRP).

The Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulatory organization for the Japanese cryptocurrency industry, has announced that Ripple (XRP) alongside 17 other cryptocurrencies will be listed across various crypto exchanges in Japan. 

According to a report published on Nikkei Asia today, the JVCEA, a group of 31 cryptocurrency exchanges, said in an online presentation that it will release a “green list” of the 18 cryptocurrencies that will be listed across the Japanese trading platforms by month end. 

Prior to the announcement, before new cryptocurrencies were listed on any of the 31 Japanese trading platforms, cryptocurrency developers were required to go through a screening process. 

However, the regulatory body observed that it was lagging behind in its number of supported cryptocurrencies compared to what is observed on other trading platforms outside Japan. 

Cryptocurrencies considered to be added to the green list are tokens and coins that are widely adopted and are available for trading across three unregulated platforms operating outside Japan. 

Some of the cryptocurrencies added to the green list include Ripple (XRP), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC). 

“The goal is to eliminate the time it takes to list a token and bring the industry closer to global standards,” an official at the JVCEA told Nikkei Asia. 

Interestingly, the development comes at a time when Ripple has been delisted from U.S.-based cryptocurrency exchanges due to the company’s legal battle with the Securities and Exchange Commission (SEC).