Association of exchanges of virtual currencies Japan (JVCEA) made the second recent initiative, this time proposing to set limits on trading volumes for some users. It is reported by Cointelegraph.
According to the publication, self-regulatory organization has developed a set of measures, according to which cryptocurrency exchanges will be required to set a maximum limit on the volume of trades for a certain group of traders.
This step JVCEA went to protect traders with smaller assets from major loss and to solve their problem of daily expenses. That falls under the description of “small assets,” the Association, however, is not yet clarified, also remains unclear and possible restrictions.
It is expected that the implementation of these requirements, exchanges have two options. The first of these involves a single fixed limit on the volume of transactions for traders with small assets. The second option is a more personalized approach that includes setting individual limit for each customer depending on a number of factors such as investment experience, income, assets and age.
JVCEA also proposes to limit the possibility of bidding for a minor, which from them will require parental consent. It is argued that this measure is aimed at countering the laundering of illegal proceeds.
Earlier this week JVCEA proposed to limit capturadora in leverage, setting it at 1:4.
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