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


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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