Japan Virtual Currency Exchange Association intends to tighten the rules for storing crypto assets

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The Japan Virtual Currency Exchange Association tightens regulation and rules for storing cryptocurrencies after the recent hacking of the Zaif exchange, during which attackers stole about $60 million, The Japan Times reports, citing informed sources. It is planned to establish a limit on cryptocurrency amounts stored by exchanges in the amount of 10-20% of customer deposits. The association is also developing recommendations for certifying cryptocurrency-related activities in the country that it plans to submit to the Japanese Financial Services Agency.

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