Ninjastic
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Topic
Board Altcoin Discussion
Re: Japan's Financial Watchdog Sends Improvement Orders to Six Crypto Exchanges
by
lunaelucemauram
on 07/07/2018, 20:14:39 UTC
Quote from: magpie_lover on June 25, 2018, 03:47:32 PM
Quote from: NeuroticFish on June 25, 2018, 02:51:30 PM
Quote from: GBCrypto1 on June 25, 2018, 09:04:45 AM
FSA (Financial Services Agency), Japan’s financial watchdog, has sent business improvement orders to six crypto exchanges operating in Japan, according to an announcement made by the agency on Friday. Read on to know more!

Link for article : https://coinfrenzy.io/japans-financial-watchdog-sends-improvement-orders/

Yup, it's just normal. KYC and AML are clearly necessary nowadays when transferring values from crypto world to fiat world.
So the emphasis is on Improvement. Nothing scary Smiley

To be honest, Japan has always come across as a crypto-friendly country despite huge turbulence caused by incidents like the Mt. Gox hack. Japanese people are very lucky because of this! The exchanges should respect the requests of the regulator and stay compliant. I wished more countries were like Japan!

Yeah at the very least their government or government agency are regulating the use of crypto exchanges in Japan and their are not opposed to it, unlike  some countries where they are banning crypto exchanges. Also it is for the protection of the users of such exchanges and I think Japan will soon legalize of cryptocurrency in their country.