Japan’s Crypto Exchanges Self-Regulate In Wake of $500 Million Hack
Japan’s Crypto Exchanges Self-Regulate In Wake of $500 Million Hack
Sixteen cryptocurrency exchanges in Japan have formed a new self-regulatory organization, an effort that comes in the wake of the $500 million theft in January. According to a report from Nikkei, the new initiative will see the group of licensed cryptocurrency exchanges, represented by two trade organizations in Japan, working towards rolling out standards in April for the country’s Financial Services Agency (FSA) in an effort to improve security measures among them. The group will also work toward developing standards for activities around initial coin offerings.
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This self regulation should make sure that there's no place for theft in the future.