exchanges Huobi and Fisco are said to have been investigated by the country’s financial watchdog last week.
A Reuters on Tuesday, citing “two sources familiar with the matter” said that the Financial Services Agency (FSA) visited the two exchanges to assess their customer protection and anti-money laundering (AML) provisions.
Japanese exchanges run by the two firms have recently seen big changes at the management level, and the FSA investigation was aimed to ensure whether adequate compliance measures are in place under the new regimes, according to the sources.
Through the acquisition of licensed exchange BitTrade, Huobi Group its services to last September.
Fisco, on the other hand, has just become the owner of the Zaif exchange, previously managed by Tech Bureau. After a major hack last September, the previous owner, Tech Bureau, moved to sell the business to Fisco for $44.7 million.
In the , Zaif lost approximately $62.5 million in (), cash (BCH) and monacoin (MONA).
Since then, registration of new members had been suspended, while , depositing and withdrawing MONA had been on hold. The official transfer of the exchange to Fisco on Monday and full services resumed today.
is one of the few countries to recognize as a legal method of payment. The country in April 2017 that also brought exchanges under anti-money laundering (AML)/know-your-customer (KYC) rules and mandated platforms to be licensed.
image via Shutterstock
Published at Tue, 23 Apr 2019 14:29:52 +0000
