Japanese Financial Watchdog Silently Patrols Crypto Businesses

The Japanese Financial Services Agency hurled an order to a digital currency operator, telling it to enhance its systems to deal with various gaps in security that the association found in an on-site assessment.

The reminiscence of the Coincheck event, which entailed losses of more than $500 million is still fresh in Japan. That is the reason authorities in the country have gone extra mile to issue legal orders to businesses which they find missing proper security measures.