FSA suspended the work of two crypto-exchangers in Japan

The Financial Services Agency (FSA) on Thursday suspended the operation of the crypto-exchanger FSHO and Bit Station for a month. The reason was the results of the audit, during which the regulatory body found a number of violations in ensuring the safety of the work of exchangers.

FSA also issued warnings to crypto-exchangers Coincheck, Tech Bureau Corp., Tokyo-based GMO Coin Inc., Tokyo-based Bicrements Inc. and Fukuoka-based Mr. Exchange Inc. All five companies must submit plans to improve internal systems for monitoring money laundering and criminal operations with cryptocurrencies until March 22, otherwise their work may also be suspended.

This is the first decision of the Japanese regulator to suspend the operation of crypto-exchangers. The reason for the global verification was a major hacker attack on Coincheck in late January, during which NEM tokens valued at $ 530 million were stolen.

The market reacted negatively to the decision of the FSA. Most of the cryptocurrencies have lost in price.

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