Japan 's financial regulator is preparing to crack down on a number of cryptocurrency exchanges for not doing enough to prevent money laundering or protect customers. The Financial Services Agency is targeting the five unregistered exchanges operating in the country, along with several of those that have been licensed. Inspections of the businesses are being carried out, following an incident in Jan. 26 when $550 million was stolen from hacked Japan -based An official announcement is expected as early as this week. The Financial Services Agency . Exchanges found to have problems will be required to make improvements and could be ordered to suspend operations.
Japan 's financial regulator is preparing to crack down on a number of cryptocurrency exchanges for not doing enough to prevent money laundering or protect customers. The Financial Services Agency is targeting the five unregistered exchanges operating in the country, along with several of those that have been licensed. Inspections of the businesses are being carried out, following an incident in Jan. 26 when $550 million was stolen from hacked Japan -based The Financial Services Agency . Exchanges found to have problems will be required to make improvements and could be ordered to suspend operations.