Japan requires cryptocurrency exchanges to tighten cold wallet security

posted 4 months ago
The Japanese Financial Services Agency is planning to force cryptocurrency exchanges to tighten their security, particularly by strengthening internal oversight over cold wallets.

The FSA requires a strengthening of internal regulations that govern cold storage safety, fearing internal theft. For example, some exchanges did not require a rotation of people in charge of the storage. The registered crypto exchanges in Japan lacking sufficient security measures will be asked by the FSA to amend that.
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