Print Edition - 2018-03-09  |  Money Digest

Japan punishes crypto exchanges after hack

- AFP, TOKYO

Mar 9, 2018-

Japanese authorities Thursday ordered two cryptocurrency exchanges to suspend operations as part of a clampdown following a massive hack that saw thieves steal hundreds of millions of dollars in virtual currency. The Financial Services Agency (FSA) said in a statement it had ordered FSHO and Bit Station, exchanges based in Yokohama and Nagoya, to temporarily halt their operations for a month from Thursday. The agency alleged that FSHO “does not have a proper system to monitor trading and has not given training to its employees,” while an employee of Bit Station “diverted digital currency deposited by clients for his personal use.” Authorities also ordered five other exchanges, including Coincheck, to improve their business practices. 

 

Published: 09-03-2018 09:15

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