Japan’s Financial Services Agency (FSA) will be issuing business improvement notices to five registered cryptocurrency exchanges by the end of this week, Cointelegraph Japan reports Tuesday, June 19.
According to the FSA inspections, crypto exchanges BitFlyer, Quoine, Bitbank, BITPoint Japan, and BtcBox do not have the proper internal management systems, including their measures to prevent money laundering. BitFlyer, Quoine and Bitbank are some of the largest crypto exchanges both in the country and in the world, currently sitting at 27th, 18th and 20th places by trade volume, according to Coinmarketcap data.