Six cryptocurrency exchanges have been sent business improvement orders by Japan 's financial regulator . The Financial Services Authority has called for a risk management overhaul , focused on anti - money protection and know - your - business requirements , from BTC Box , Bit bank , bitFlyer , Check Point , Tech ##net and others . BitFlyer , the world 's 23rd largest exchange by transaction volume , has already started taking remedial measures in response to the order . The FSA policy of " administrative penalties " for Japan 's crypto - exchanges started after Coincheck 's $ 530 m loss earlier this year .
Six cryptocurrency exchanges have been sent business improvement orders by Japan's financial regulator. The Financial Services Authority has called for a risk management overhaul, focused on anti-money laundering and know-your-customer requirements, from BTC Box, Bit bank, bitFlyer, Bit Point, Tech Bureau and Quoine. BitFlyer, the world's 23rd largest exchange by trade volume, has already started taking remedial measures in response to the order. The FSA policy of "administrative penalties" for Japan's crypto-exchanges started after Coincheck's $530m hack earlier this year.