Japanese Watchdog Bares Its Teeth
Japan's financial overseer acted against seven cryptocurrency exchanges suspending two, the first such action on digital exchanges.
The Financial Services Agency suspended Bit Station and FSHO crypto exchanges for a month and hit Coincheck for the second time with a business improvement order.
The other operators Bicrements, GMO Coin, Tech Bureau, and Mr. Exchange are required to report back on how to improve their business operations by March 22, 2018.
Standing Alone
The financial regulator increased monitoring of virtual currency exchanges following the massive hack on Coincheck which resulted in the theft of $532 million worth of digital tokens.
Japan demands virtual currency exchange operators in the country to register with the government and is the sole Asian jurisdiction to officially regulate cryptocurrency trading.
