Japanese regulators will be engaged in the inspection cryptocurrency exchanges

Japanese regulators will be engaged in the inspection cryptocurrency exchanges

Financial regulator of Japan plans to conduct more checks on cryptocurrency exchanges and exchange offices.

According to the Agency Nikkei, the financial services Agency (FSA) plans to check on a few cryptocurrency exchanges, starting this week. Recall that recently came in on Coincheck, a few days after cracking this cryptocurrency exchanges.

Therefore, the Agency hopes that cryptocurrency exchanges and exchange will be implemented more stringent safety standards, which in turn will allow to prevent similar incidents.

Previously, we reported that on January 26 with exchange Coincheck was stolen about 531 million dollars in tokens NEM. Some time after this, February 2, the FSA conducted an inspection at this cryptocurrency exchange to assess the security level and the financial capacity to compensate the victims of a hacker attack.

FSA stated that it warned the stock exchange about vulnerabilities to hacking. This explains why Coincheck has still not received the official approval of the Agency.

In its report, the Nikkei says that despite the growth of the cryptocurrency market in Japan, many platforms have lagged in terms of security.

According to the report, now the market is working about 32 cryptocurrency exchangers and stock exchanges, of which only 16 has not received an official license from the FSA. This situation became possible due to the fact that most of them started their activities before April of last year in Japan, when the law on cryptocurrencies.

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