Japan Scrutinizing Crypto Exchanges Ahead of G20 Summit
Japan’s financial watchdog is said to be inspecting crypto exchanges over anti-money laundering measures ahead of June's G20 meeting.
The instructions from the FSA are vague and obvious, but they indicate some movement on the regulatory front.
In 2019 the Financial Services Agency has approved 3 new exchanges, following a year without any new openings.
While Japan is known for its retail market, crypto exchange OKCoin believes the country’s strict licensing regime will attract institutional investors.
Fisco, owner of the Zaif crypto exchange, is being forced to upgrade its management systems after an investigation by Japan’s financial watchdog.
Japanese messaging giant LINE may soon be able to open a cryptocurrency exchange for its 80 million users based in the country.