The Japanese Financial Services Agency (FSA) released the results of a variety of on-site inspections that took place in 23 cryptocurrency exchanges around the country. What it found led it to the conclusion that it should be harsher when it comes to accepting new applications from exchanges hoping to attain an operating license.
From this point onward, any new exchange will have to have an on-site visit by government inspectors that would analyze their business for certain criteria, including their business models.
“We will enrich document and evidence confirmation about the situation of the company’s business plan and the effective internal control system and the situation of the governance system that gives priority to user protection, performing the verification on-si...
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