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Crypto theft means more regulations in Japan

Wednesday 31 January 2018

News Summary 

The recent heist at the Japan-based digital currency exchange, Coincheck, looks set to result in tighter regulation for digital currencies by the Japanese Government.

This comes after policy-makers were already developing a new licensing system.

According to the AFR’s Yuji Nakamura and Andrea Tan, the theft of nearly US$500 million (approximately AUD$620million) has had a major impact on crypto currency markets.

While the Japanese Government will be working with the relevant agencies, it was announced that Coincheck will be issued with a business improvement order.