Japanese Regulators to Increase Crypto Exchange Inspections
Following a notable hack, Japanese regulators are moving to increase the frequency of on-site cryptocurrency exchange inspections.
A group of Japanese cryptocurrency exchanges is reportedly uniting to form a new self-regulatory body in the wake of the recent Coincheck hack.
The Japanese government said today that inspections will take place at 15 unlicensed cryptocurrency exchanges in light of a recent major hack.
Japanese exchange Coincheck is facing another class action lawsuit demanding cryptocurrency refunds and compensation for hack losses.
Since Coincheck partially resumed business activities following its recent hack, investors have flocked to withdraw millions from the exchange.
Japanese cryptocurrency exchange Coincheck has said it plans to allow users to start withdrawing local currency from their accounts next Tuesday.