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Japanese regulators tighten control measures for all crypto-exchange exchanges

The Japanese regulator plans to inspect several crypto-Exchange exchanges in the coming days, expecting that more intensive control will force the company to strengthen security measures and consumer protection.

This was the result of large-scale hacking kriptobirzhi Coincheck, in which hackers had  stolen  tokens XEM more than $ 500 million. Immediately after the incident the Japanese Finance Minister Taro Aso (Taro Aso) demanded kriptovalyutnyh exchanges countries strengthen internal systems cyber security, and Coincheck offices was  aimed  Inspection of the Agency for Financial Services of Japan (FSA).

At other crypto-exchange exchanges FSA requested information about their control and security systems. Some companies provided, according to the regulator, “uncertain data”, and FSA suspected that their asset management systems are not reliable enough. On-site inspections should help FSA get a better picture.

There are 32 crypto-exchange exchanges in the country, but only 16 of them are registered with the FSA in accordance with the law, which came into force in April 2017. The other half, including Coincheck, was exempted from compulsory registration, as these companies already worked until the new rules appeared.

The regulator also worries that the lack of specialists in the field of internal audit and cyber security will not allow crypto-exchanges to quickly improve the security situation. Therefore, the FSA is considering the adoption of disciplinary measures against those crypto currency operators who will continue to work without proper security measures.

Recall that the Coincheck exchange promised  to repair  losses to 260 thousand victims of hacking customers. And the company NEM Foundation, which released and supports XEM tokens, managed to trace the  stolen funds to an unidentified account.

The post Japanese Regulators Tighten control measures for all crypto-exchange exchanges appeared first on Target Veb.

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Japanese regulators tighten control measures for all crypto-exchange exchanges


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