Crypto Exchanges Huobi and Fisco Investigated by Japan Watchdog: Report
Crypto exchanges Huobi Japan and Fisco were investigated by the country’s Financial Services Agency last week, according to Reuters sources.
In 2019 the Financial Services Agency has approved 3 new exchanges, following a year without any new openings.
Fisco, owner of the Zaif crypto exchange, is being forced to upgrade its management systems after an investigation by Japan’s financial watchdog.
The instructions from the FSA are vague and obvious, but they indicate some movement on the regulatory front.
Japanese messaging giant LINE may soon be able to open a cryptocurrency exchange for its 80 million users based in the country.
Japan’s financial watchdog is said to be inspecting crypto exchanges over anti-money laundering measures ahead of June's G20 meeting.