Quote from: shakaru on March 08, 2018, 08:52:07 AM

Finance regulators in Japan have ordered month-long suspensions for two domestic cryptocurrency exchanges.

The Financial Services Agency (FSA) said on Thursday that it has issued business suspension orders to two exchanges - FSHO and Bit Station - effective for one month starting from today.

The FSA mandated that seven trading platforms in total must improve their system security measures and submit a written improvement plan by March 22. Those four exchanges are Tech Bureau, GMO Coin, Mister Exchange, Bike Limited as well as Coincheck, the exchange at the center of a recent $500 million heist that sparked the ongoing probe by the agency.

https://www.coindesk.com/japans-fsa-announces-suspension-of-two-crypto-exchanges/

A business suspension order can effectively kill a business. When it is for as long a period as a month, its revenues get shut off, its customers start looking elsewhere and even if it resumes business, the liquidity at the exchange will dry up. Plus the resumption of operations at these businesses is contingent on them improving security measures and submitting an improvement plan. No customer is going to hang around to see if that will happen. Hopefully, in the future the FSA will give its recommendations to exchanges before they begin operations.