Japan’s leading financial regulator, the Financial Services Agency (FSA), is urging institutions to place tighter scrutiny on crypto transfers, according to an official note published today. The joint note by the FSA and the country’s National Police Agency (NPA) refers to a high number of cases of “specialized fraud” in addition to “many cases of…
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South Korea-based Delio is currently under scrutiny as the country’s Financial Services Commission (FSC) investigates the crypto lending firm for alleged fraud, embezzlement, and breach of trust. According to reports from local news outlet Digital Asset, the investigation sprouts from Delio’s unilateral decision to suspend users’ deposits and withdrawals on June 14, raising concerns among…
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Although no official date is mentioned for the launch of Binance Japan, the notice stated that the exchange could start after June. Crypto exchange Binance is set to reenter Japan after acquiring the regulated crypto exchange platform Sakura Exchange Bitcoin (SEBC). Binance acquired the exchange — a Japan Financial Services Agency-licensed business — in November 2022, intending…
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Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order to FTX Japan, the Japanese subsidiary of FTX.com. The financial watchdog has also ordered the crypto exchange to submit a business improvement plan by Nov. 16. Japanese Regulator Takes Action Against FTX Japan Japan’s Financial Services Agency (FSA) announced Thursday…
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On Nov. 10, 2022, FTX CEO Sam Bankman-Fried (SBF) addressed the crypto community in a thread posted to Twitter. SBF noted that he messed up and “should have done better” and also detailed that at some point he “might have more to say about a particular sparring partner.” SBF Says He Messed Up, Claims ‘Hands…
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Under the orders, FTX Japan will be required to suspend OTC derivatives transactions and related margins as well as new deposits from Nov. 10 to Dec. 9 unless the FSA steps in. The Financial Services Agency, or FSA, of Japan has requested FTX Japan suspend business orders, citing the policies of FTX Trading Limited. In…
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According to the National Police Agency (NPA) in Japan, North Korean hackers from the crime syndicate Lazarus Group have been targeting crypto companies in the country. Local reports detail that it’s the fifth time the NPA has tied “public attribution” to the organization of North Korean cyber criminals. Japan’s Law Enforcement and Financial Regulator Warn…
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Self-reg entity JVCEA has reportedly received stern warnings to get its act together, as Japan’s Financial Services Agency pushes for the organization to speed up its AML regulation rollout. Japan’s self-regulation “experiment” for the crypto industry is reportedly not working as well as intended, according to local government and industry experts. Since 2018, the Japan…
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If passed, the rules reform could make it easier for domestic exchanges to list more crypto without needing to go through a long screening process. The Japanese government is considering a proposal to make it easier for registered crypto exchanges to list digital assets in the local retail trading market. Sources quoted in Bloomerg said…
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