Japan’s FSA imposes penalties on 3 cryptocurrency exchanges

Japan’s FSA imposes penalties on 3 cryptocurrency exchanges

Details of the report released by Japan’s Financial Services Authority

  • The three exchanges are FSHO, Eternal Link, and LastRoots
  • FSHO and Eternal Link were also ordered to suspend operations
  • Business improvement orders were given to the three exchanges
The orders come after the result of ongoing inspections of 16 cryptocurrency exchanges that are not yet registered. Eamonn had the heads up earlier
here.

The orders are mostly related to the measures implemented by the exchanges with regards to counter money laundering and systems risk. The FSA found that these three exchanges lacked the necessary in those areas so that’s why they were issued the improvement/suspension orders.

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