In an announcement today made by bitFlyer, one of the biggest bitcoin exchanges in Japan, it stated that due to new guidelines and regulations set by the Japan Virtual Currency Exchange Association, and since bitFlyer is a member of the Association, they will start rolling out changes to its trading platforms. The changes were planned to be applied on Monday, April 22, 2019 according to cryptoninjas.
However, these changes were postponed and will be implemented on Tuesday, May 28, 2019 from 4.00 to 6.00am JST. The changes will run concurrently with a scheduled maintenance.
Here are the things that are set to be reversed come Tuesday and a little more information for you
1. There Will be a Change of the Highest Leverage Rate Permitted When Placing New Orders from 15x to 4x
Right now, bitFlyer accepts the use of 15x of valuation margin also known as 15x leverage. But come Tuesday, 28th May (JST), the maximum leverage that will be accepted when placing a new order will be 4x.
Once the time elapses, one will not be able to place new orders that are more than 4 times the valuation margin. Furthermore, margin sellouts will not be activated by the optimum leverage rate changes to be put up on Tuesday, May 28th, 2019.
Customers who have a leveraged rate setting more than 4x on Tuesday, July 30th, 2019(JST), will automatically have their leverage setting set to 4x. Margin calls will be activated for clients who hold more than 4x their margin valuation at the time. Although the exact time has not yet been proposed, bitFlyer has assured all its customers that the exact date will be announced.
2. There Will be a 20% Change of Margin Maintenance Rate.
At the moment, margin calls for bitFlyer are usually put in when the maintenance margin rate goes below 80%. But this is set to change come Tuesday, May 28 2019. The margin calls will be set off when the maintenance margin rate goes below 100%. For clients who have a less than 100% maintenance rate at the time the changes are applied will be faced with a margin call.
3. It Will Now Take 2 days to Make Supplemental Margin Deposits From 3 Bank Days
At the moment, when margin call rules are triggered, it takes 3 banking days for a supplemental margin deposit to be made with bitFlyer. The case will now be different on Tuesday, May 28,2019. Once a margin call is set off, it will now take customers 2 banking days to make a supplemental margin deposit.
Bitcoin Market Price Chart in RealTime