May 08, 2018 at 17:10 // News

Coin Idol Author

Taking into account recent crypto coin robberies, the Financial Services Agency (FSA) of Japan has decided to put tougher regulations on crypto exchanges, as Nikkei Asian Review reported on May 6. The financial institution has presented five strict guidelines which legitimize digital currency transactions on the country’s financial market.



The move is seen as an attempt to prevent any possible security problems like those that appeared at Coincheck in January this year. Hackers stole almost $530 million in NEM tokens from the fintech company.

The rules will come into power when the FSA restarts accepting new registration applications. The event is expected to happen already this summer. According to the new framework, all digital currency exchanges will have to satisfy the following five requirements: