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 agency is also expected to urge Coincheck to compensate customers whose NEM was stolen. The Financial Services Agency is targeting the 16 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 January when $550m was stolen from hacked Tokyo-based Coincheck. In February, Bitfinex and Gemini announced they were launching bitcoin futures contracts using the Cboe Global Markets exchange-traded product (GMM) as well as other digital currencies.
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 16 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 January when $550m was stolen from hacked Tokyo-based Coincheck. In February, Bitfinex and Gemini announced they were launching bitcoin futures contracts using the Cboe Global Markets exchange-traded product (GMM) as well as other digital currencies.