Japan's Financial Market Watchdog Seeks Improvements At 6 Crypto Exchanges

Japan’s Financial Market Watchdog Seeks Improvements At 6 Crypto Exchanges

Cryptocurrency Blockchain

Japan's Financial Market Watchdog Seeks Improvements At 6 Crypto Exchanges

 

  • Japan's Financial Services Agency said on Friday that six registered cryptocurrency exchanges, including the leading ones bitFlyer and Quine, were asked to improve their screening measures, especially those concerning money laundering.
  • The Nikkei Asian Review reported that it was unusual for the watchdog to simultaneously punish so many registered exchanges.

 

Crypto At A Glance

Japan's Financial Market Watchdog Seeks Improvements At 6 Crypto Exchanges

 

Crypto At A Glance Japan's monetary controller said on Friday it has requested digital money trades including bitFlyer, Inc., one of the nation's greatest, to make upgrades to remiss measures on illegal tax avoidance.

The Financial Services Agency (FSA) slapped six trades with business change arranges after it discovered imperfections in their hostile to illegal tax avoidance frameworks and controls amid on location assessments.

BitFlyer said in an announcement it would willfully stop the production of new client accounts as it tries endeavors to shore up its frameworks. Others focused by the FSA included surely understood trades Quione and Bitbank Inc.

The FSA has gotten serious about cryptographic money trades since the $530 million burglary of advanced cash from Coincheck, one of Japan's greatest, prior this year. The heist underscored stresses over the security of exchanging crypocurrencies.

 

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