Japan Moves to Mandate Liability Reserves for Crypto Exchanges

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Introduction of stricter rules for crypto exchanges in Japan

Japan is in the process of introducing significant changes to cryptocurrency regulation following renewed attention to Mt. Gox-related repayment activity in 2024.

The Financial Services Agency (FSA) plans to introduce new rules requiring cryptocurrency exchanges to maintain special “liability reserves” to protect customers if their assets are lost due to hacks or unauthorized transfers. The measures aim to bring the cryptocurrency sector closer to the strict standards applied to…



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Japan Moves to Mandate Liability Reserves for Crypto Exchanges


Introduction of stricter rules for crypto exchanges in Japan

Japan is in the process of introducing significant changes to cryptocurrency regulation following renewed attention to Mt. Gox-related repayment activity in 2024.

The Financial Services Agency (FSA) plans to introduce new rules requiring cryptocurrency exchanges to maintain special “liability reserves” to protect customers if their assets are lost due to hacks or unauthorized transfers. The measures aim to bring the cryptocurrency sector closer to the strict standards applied to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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