Japan Introduces New Screening Requirements for Crypto Exchanges

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Japan’s financial regulator has reportedly introduced new screening requirements for crypto exchanges seeking approval to operate in the country. The agency now extends its focus beyond the registrants’ financial health and system safety measures. Among additional criteria are the assessment of the companies’ decision-making process and their links to antisocial groups.

New Exchange Requirements
Japan’s top financial regulator, the Financial Services Agency (FSA), has “tightened its registration screening for cryptocurrency exchanges to see whether they are properly conducting risk management,” the Japan Times reported, quoting unnamed sources.

Specifically, the sources revealed on Saturday that the agency has “increased the number of questions asked when screening applications to about 400 items, up fourfold,” the news outlet conveyed. “Previously, the questions only covered such items as an applicant’s financial status and measures to ensure system safety.”

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