Japanese regulator moved into “crisis” mode after the robbery of the exchange Zaif

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Japanese regulator moved into “crisis” mode after the robbery of the exchange Zaif

On 20 September, the entire cryptocurrency sector was excited about the news about the robbery of the Japanese stock exchange Zaif. Was the stolen bitcoins, and tokens Cash and Bitcoin Monacoin 6.7 billion yen (about $60 million).

As reported by Japanese newspaper Mainichi Shimbun, after the robbery, the Japanese financial regulator, the financial services Agency (FSA), immediately moved into “crisis” mode.

In the portal Agency reported:

The FSA inspected the office of the exchange in Osaka on the same day when it became known about the theft, to clarify the circumstances. We thoroughly check the system, security exchange, etc.

As previously reported, after the robbery, Coincheck, the Agency began investigating the activities of many Japanese exchanges and asked some of them to “toughen style operations”. It is noteworthy that the FSA has allowed Coincheck to continue the activity. To date the exchange has compensated clients all the stolen money.

It is not known whether Japanese regulator so forgiving Zaif, given the fact that he twice endured the provisions of this exchange (in March and in June 2018). The decision will depend on the fact whether Zaif to compensate for users losses.

According to the site Bitcoinist, after the robbery, the Japan Association of Virtual Currency Exchange (Jvcea) also made a statement. Jvcea a self — regulatory organization that brings together 16 registered kryptomere, including Tech Bureau, the operator Zaif. The President of the Association Tayzen Okuyama said:

Although we do not know all the details, our Association will ask its members to take the necessary measures, in particular, asset protection and adequate customer information.

According to Okuyama to prevent similar episodes, the regulator asked all the exchanges to immediately review the nature of its operations.

Senior officials of the Japanese government also commented on the robbery. So, 21 Sep Nikkei quoted Finance Minister Taro ASO, who expressed regret over the incident and promised to “investigate the facts and to take measures necessary for the protection of users.”

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