Japanese Financial Regulator Temporarily Halts Activities Of Two Crypto Exchanges
Japan’s financial regulator issues another business improvement notice and suspends business for two months at two crypto exchanges.
Japan’s Financial Services Agency (FSA) has ordered the suspension of two more cryptocurrency exchanges and sent a business improvement notice to another, following a series of inspections after the January hack of around $534 mln in NEM from Japanese crypto exchange Coincheck, local news outlet Nikkei Asian Review reports today, April 6.
As a result of the FSA’s on-site inspections of Japan’s 15 as-of-yet unregistered crypto exchanges, the regulator has already halted operations at two exchanges and sent business improvement notices to seven, including Coincheck.
The Nikkei Asian Review notes that crypto exchange Last Roots received the latest business improvement notice, and the latest FSA orders to suspend operations are to crypto exchange External Link, which must pause operations on April 6 for two months, and FSHO, whose halting order must begin on the April 8. FSHO was one of the two exchanges that had already been ordered to halt activities for one month starting on March 8.
Last week, two Japanese crypto exchanges decided to shut down rather than work with regulators on compliance.
Cointelegraph confirmed today that online broker Monex Group will buy Coincheck for 3.6 bln yen (around $34 mln).