Sources revealed last Wednesday that Japan’s Financial Services Agency will be handing administrative punishment notices to several cryptocurrency exchanges and may even issue suspensions for several businesses.

It was not revealed which exchanges would be included, but it is said that the FSA will ask Coincheck Inc., GMO Coin and Zaif to raise their standards.

Japan is the first country to implement regulation on cryptocurrency exchanges at the national level, with 16 exchanges currently registered with authorities. The FSA is currently investigating security shortcomings on all cryptocurrency exchanges after the Coincheck cyber-heist where hackers stole $530 million in NEM.


Source: Reuters

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