ChainCatcher news, according to Coindesk, the global compliant cryptocurrency trading platform Backpack has officially registered as a Type II member of the Japan Virtual Currency Exchange Association (JVCEA).This membership marks a step closer for Backpack to becoming a virtual currency trading service provider in Japan and moves towards obtaining a full license. It has been two years since Binance Japan became a JVCEA member in October 2022, with no new members joining the association since then.Japan is one of the first countries in the world to establish a comprehensive regulatory framework for cryptocurrency exchanges. As a self-regulatory organization under Japan's regulatory framework, JVCEA imposes strict requirements in key areas such as customer protection, anti-money laundering, and operational security.