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Cryptocurrency exchanges Huobi Japan and Fisco were reportedly investigated by the country's financial watchdog last week.
A report from Reuters on Tuesday, citing "two sources close to the record," said that the Financial Services Agency (FSA) had visited both stock exchanges to evaluate their customer protection provisions. and fight against money laundering.
The Japanese stock exchanges managed by the two companies have recently undergone significant changes at the management level. The FSA investigation was aimed at verifying whether adequate compliance measures were in place under the new regimes, according to sources.
With the acquisition of BitTrade cryptocurrency licensee, the Huobi Group expanded its trading services in Japan last September.
Fisco, on the other hand, has just become the owner of the Zaif stock exchange, previously managed by Tech Bureau. After a major hacking last September, the previous owner, Tech Bureau, decided to sell the business to Fisco for $ 44.7 million.
In the breach, Zaif lost about $ 62.5 million in bitcoins (BTC), bitcoins (BCH) and monacoins (MONA).
Since then, registration of new members has been suspended, while MONA trade, deposits and withdrawals have been pending. The official transfer of the exchange to Fisco took place on Monday and the full services have resumed today.
Japan is one of the few countries to recognize bitcoin as a legal payment method. The country pbaded a law in April 2017 whereby cryptocurrency exchanges are also governed by anti-money laundering (AML) / customer awareness (KYC) rules and mandatory platforms.
Japanese flag image via Shutterstock
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