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Japan's Financial Services Agency has flagged concern that crypto platform screen layouts and order flows push users toward the dealer-based sales counter model, where the operator sells directly to the customer at a wider spread, rather than the order-book exchange model that matches user orders; CoinPost reported on the 17th that the agency is discussing interface design and user pathways with operators and plans to strengthen the suitability principle in self-regulatory rules. The revenue channel is the point: spread income from principal dealing is a core margin line for Japanese exchange operators, so mandated neutral routing or clearer order-book access would compress take rates while lowering effective transaction costs for retail BTC and ETH buyers. Watch whether the JVCEA formalizes the suitability revision and whether it carries prescriptive UI requirements, since guidance alone would leave current spread economics largely intact.
As a Policy signal, watch whether it changes price action, volatility, or flows around BTC.
Original Source: 토큰포스트
This page is market information analysis, not investment advice.
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