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Japan Regulator Surprises Crypto Exchanges with Sudden On-Site Inspections

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By CCN.com: Japan’s Financial Services Agency (FSA) has reportedly carried out unscheduled onsite inspections at cryptocurrency exchanges Huobi Japan and Fisco Digital Asset Group(FDAG). According to Reuters, the inspection is taking place so that the regulatory body can find out if the exchanges have been taking adequate steps to protect their customers, as well as to check for legal compliance. The report state that the FSA believes that both exchanges currently are not taking the required actions to adequately protect customers and abide by the regulator’s AML requirements. The inspection could potentially lead to a suspension of their operating licenses

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* First published on ccn.com

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