NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Japan’s FSA Is Pressuring Exchanges to Drop Cryptocurrencies Favoured by Criminals

newsbtc
newsbtc
7 years ago
2 mins read
Cryptocurrencies

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Japan’s financial watchdog is applying pressure to local digital currency exchanges to drop cryptocurrencies such as Monera, Zcash, and Dash, according to a report.

Altcoins Favoured by Criminals

In a report from Forbes, sources close to the the Financial Services Agency (FSA), which approves licenses to digital currency exchanges, claim that the agency is taking the necessary steps to stamp out the use of certain cryptocurrencies that are favoured by criminals and hackers.

According to the FSA, it is difficult, ‘if not impossible,’ to identify those who use digital currencies such as Monero. As a result, the agency believes that they are becoming the ideal coins for money laundering. Due to the fact that seasoned investigators can follow the money via the blockchain when bitcoin is used, cybercriminals are now using new ‘privacy coins’ instead for ransom payments or the purchase of illegal goods.

During a 10th April working group meeting on the cryptocurrency market, a member of the FSA said:

“It should be seriously discussed as to whether any registered cryptocurrency exchange should be allowed to use such currencies..”

Of the three cryptocurrencies – Monero, Zcash, and Dash – the FSA is most against Monero after it was reported that North Korea may be using the currency to raise funds, the report states.

Tokyo-based Coincheck, which was the target of the biggest hack in January that resulted in the loss of $530 million worth of NEM, had handled all three digital currencies before the exchange was hacked. However, following the theft of the coins the exchange delisted them in a bid to show better compliance standards.

As a consequence of the hack, the FSA has ramped up its efforts to ensure that the country’s exchanges are running correctly to ensure customers’ assets remain safe. The country, which has more than 3.5 million digital currency investors, is considered a crypto-friendly location; however, the issue with Coincheck has highlighted to authorities that more needs to be done to maintain a secure industry in Japan.

Coincheck has applied for a license with the FSA, but it first needs to improve its services before it has any chance of receiving one. Understandably, the regulator has ordered the exchange to make several improvements. In an attempt to boost customer confidence, Coincheck was recently acquired by online brokerage Monex Group for $33.5 million. The hope is that the exchange will experience a turnaround that sees a boost in customer confidence. However, it remains to be seen whether the exchange can re-establish itself again.

Image from Shutterstock.
Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Pepe coin stúpol o 20 %

PEPE za posledný týždeň vzrástol o 20 %. Pozornosť však púta tento AI Pepe meme coin

Meme coiny konečne ožívajú. Na čele rastu stojí populárny coin PEPE a hneď za ním celá rada obľúbených coinov. Neistotu,...

Nina Šefčíková 3 months ago
Crypto Bitcoin News Meltem Demirors

Meltem Demirors On Crypto Rally: ‘Are We So Back? Not So Fast’

Over the past two weeks, Bitcoin and the broader crypto market have seen a slight recovery. However, Crucible Capital General...

Jake Simmons 3 months ago
crypto news trump april 2

Crypto Braces For April 2 — The Most Crucial Day Of The Year

The crypto market is on high alert ahead of April 2, a date some analysts are calling “the biggest event...

Jake Simmons 3 months ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin News Japan bond market collapse

Bitcoin Breakout Narrative Explodes As Japan’s Bond Market Collapses

Jake Simmons 1 month ago
Crypto news best altcoins may 2025

Best Altcoins To Watch In May: Breakouts Are Brewing, Says Crypto Analyst

Jake Simmons 2 months ago
fantasy pepe rozgrzewa web3

Fantasy Pepe rozgrzewa Web3. Giełdowa niepewność napędza alternatywy

agnieszkaz 2 months ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    5 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    13 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    17 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    17 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    23 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.