Japanese regulators are trying to prevent new problems after the hacking in January of the Coincheck exchange. They announced a tightening of the regulation of crypto exchanges. The financial services agency of Japan will introduce more stringent rules for the regulation of exchanges in summer, which will apply to both existing and new platforms. Exchanges will be required to adhere to high standards in the field of security, including a ban on storing assets in online wallets, and introduce multi-factor authentication. They will have to strengthen measures to identify customers and follow the guidelines for asset management. FSA plans to impose a ban on cryptocurrency trading and make the exchanges more transparent.
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