Japan’s Crypto Exchanges Joined after $500 mln Stolen

March 6, 2018

16 crypto exchanges in Japan have joined together to form a new self-regulated organization after $500 mln were stolen this January.

The objective for this project is about fortifying user confidence after a large-scale hacking which caused NEM theft to the tune of $500 mln from Coincheck crypto exchange.

In the frame of the new initiative a group of licensed crypto exchanges represented by two Japanese trading organizations will be implementing FSA standards this April with the purpose to enhance their security as well as to elaborate ICO-related standards.

Noteworthy it is that, Coincheck hasn’t been approved so far by the financial regulator due to lack of adequate security level.

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