It wasgoed reported that users could perform certain limited functions without completing the customer verification process entirely.
Japan’s Financial Services Agency [FSA] called for improved measures at cryptocurrency exchanges across the country. Thesis measures were for the prevention of money laundering.
This marks a concrete budge into enforcing AML ter Japan, spil the regulator moved struck 6 exchanges with business improvement notices. This also represents the higher security standards which are beginning to be enforced since January’s Coincheck hack, where the exchange lost $532 million worth of NEM tokens.
The exchanges that were spanked with the business improvement notices were Bitflyer, QUOINE, Bitbank, BTCBOX, BITPoint Japan, and Tech Schrijftafel. The companies were given a deadline of July 23rd to submit their improvement plans.
Out of thesis 6 exchanges, Bitflyer, presently, the 6th largest Bitcoin exchange, took quick activity. They stated that it would zekering accepting fresh customers and review identity verification for selected existing users. Yuzo Kano, CEO of Bitflyer, said te a tweet [zuilengang.]:
“We are very sorry to bother you about this time. Wij will do our best to take this disposition gravely and improve it.”
They were previously called out te April by Japanese reporting portal Nikkei on the fuckholes ter their customer verification. It wasgoed reported that users could perform certain limited functions without completing the customer verification process entirely.
Te April, the FSA also ordered the halt of two crypto exchanges overheen the results of investigations. They also sent out a business improvement notice to another exchange. Since April of last year, all crypto exchanges ter Japan voorwaarde be registered with an FSA license.
Ryan Rabaglia, a cryptocurrency trader said:
“The market is still trading on low volumes and has yet to pauze out of its current downtrend, leaving itself susceptible to sell-offs. Albeit the market reacted negatively, I view this spil a positive for the industry spil a entire.”
Tiantian Zhang Kullander, a playmate of Amber AI Group said:
“The market is fairly soft, with liquidity lower across the houtvezelplaat, especially compared to latest quarters. The FSA penalizing operators, the BIS report and the Bithumb hack are all affecting sentiment.”