Financial Autority in Japan to Inspect 32 Cryptocurrency Exchanges

The Japanese Financial Services Agency (FSA) announced that they are going to inspect 32 cryptocurrency exchanges in Japan. The investigation includes 16 exchanges that are already licensed and 16 other ones that have applied for license and under review.

The approval of the FSA is very important for those Japanese exchanges. In September 2017, the FSA approved 11 exchanges including Money Partners, Quıine, Bitflyer,B ittrade and etc. Then 4 other exchanges joined them in December.

Now another 16 are currentlynot licensed but are classified as “deemed virtual currency exchange traders” while under review. The most known exchange among them is Coincheck.

The agency published this list of all exchanges in response to the hack of Coincheck, where 58 billion yen (~USD$530 million) worth of NEM were stolen last week. While the exchange has promised to repay its 260,000 affected customers out of its own capital, no timeframe has been set.

Leave a Comment

Your email address will not be published. Required fields are marked *