Regulator of Japan have inspected the crypto currency exchange


Inspected working in the country’s stock exchange Japanese financial services Agency (FSA) concluded that most of them are still not fully meet the different requirements.

Thus, the Agency noted a discrepancy between the internal systems of the exchanges, a growing volume of trading during the year reached $7.1 billion in addition, the exchanges runs an average of 20 people, which, in the opinion of the Agency, are insufficient to provide the full service.

The regulator also found problems in the systems of risk management, breaches in internal audits, as well as in combating money laundering.

After the inspection, the regulator decided to tighten the rules on opening of new exchanges in the country. In addition, the Agency intends in the early stages to help exchanges to build its business in compliance with all regulatory standards. Thus, the first priority will be the protection of investors.

Recall that the increasing attention of the regulator to cryptocurrency exchanges happened after the hacking of the exchange Coincheck, which was stolen more than half a billion dollars in tokens NEM.

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