Six cryptocurrency exchanges have been sent business improvement orders by Japan 's financial regulator . Japan’s financial regulator the Financial Services Agency (FSA) has sent business improvement orders to six major cryptocurrency exchanges, Cointelegraph Japan reports June 22. 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 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 .