Re: [27-04-2018] FSA Slams Another Crypto Exchange with Business Improvement Order
This is good news. I predict, in 5 years, that the best cryptocoin exchanges will be operating from Japan because of their stricter laws and their higher standards. I remember when I was a kid I used to love toys that were made in Japan, but not the toys that were made in China hehehe.
LOL. Are in the Voltes V era or Mazinger Z hehehe (Damn I'm exposing my age here).
That's one thing you really love about the Japanese people though, they really have the discipline in doing their job.
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The order follows an on-site inspection by the Kanto Local Finance Bureau (a regional department of Japans Ministry of Finance) after the exchange submitted its system risk management report to the FSA.
That was an on-site inspection. Meaning they physically went there sit with the CEO or whatever who is managing the company and ask them to open their books and document so that everything is complaint. If that is a different government, they will just ask the company to submit the documents, in which they can possibly alter it so that it will look likes it government compliant.