Cryptocurrencies
Japan Regulators Face Scrutiny After Second Major Crypto Heist
This article is for subscribers only.
The second major theft of virtual currency in Japan is spurring lawmakers and the industry to question the ability of the country’s regulators to oversee the fast-and-loose tendencies of the crypto-trading world.
As the heist of almost $500 million in digital tokens from Tokyo-based exchange Coincheck reverberates through virtual currency markets, Japan’s eight-month-old law regulating Bitcoin and other cryptocurrencies, and the Financial Services Agency tasked with enforcing it, are coming under scrutiny.